The Loan Estimate (“LE”) is a document provided to you by the lender within 3 days of the application date.  The application date is the date when the following have been provided to the lender:

• Property address
• Property value
• Name of borrower
• Social security number to pull credit
• Income
• Loan amount

Once a lender receives these six pieces of information, they have three days to issue an LE. The LE is the initial estimate of the costs, containing the interest rate, monthly payment, and the estimated amount due at closing.

A lender may not have your title company’s fees and may quote their own title company, in order to get the LE out within the three day time frame; the costs quoted on the LE can change prior to closing.

Did you receive an LE and are having trouble understanding it, contact us and we can go over it with you.

We offer a variety product services, ask us how we can assist you today:
Counsel Mortgage Group®, LLC
NMLS #178927
AZ MB #0909580
CA DBO #60DBO43873

Copyright © 2020 Counsel Mortgage Group®, LLC