Process & Closing
What is a loan estimate?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A Loan Estimate is a standardized three-page form lenders must give you within three business days of applying. It lays out your rate, monthly payment, closing costs, and key loan terms so you can compare offers.
Because every lender uses the same format, you can put two Loan Estimates side by side and compare apples to apples. We walk you through ours line by line so there are no surprises at closing.
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