The Loan Estimate (“LE”) is the document provided to you by the lender within 3 days of the application date. The application date is the date the lender is provided the following: • Property address • Property value • Name of borrower • Social security number to pull credit • Income • Loan amount Once the lender receives these six pieces of information, they have three days to issue an LE to you. The LE is the initial estimate of the costs, it contains the interest rate, monthly payment, and the estimated amount due (or to be paid to you)...
