Loan Estimates

A Loan Estimate is a document provided by your lender that outlines the anticipated costs and terms of a mortgage loan. It includes details such as interest rate, monthly payments, closing costs, and any other fees you might pay. The purpose is to help you understand and compare different loan options before committing, ensuring transparency. The document must be provided within three days of applying for a loan, offering a clear snapshot of what to expect financially so you can make an informed decision.