When you apply for a mortgage, the government – specifically the Consumer Financial Protection Bureau (CFPB), requires your lender to provide you with a Loan Estimate within three business days of receiving your application. This document provides all the estimated costs associated with the requested mortgage, so you can more easily understand and compare competing mortgage offers.
To better understand a Loan Estimate, visit the Consumer Financial Protection Bureau (CFPB).
Once there you’ll also find a sample Loan Estimate form with interactive tips and definitions.
This article is part of the Home Buyer Guide.