What is a Loan Estimate?
A Loan Estimate is a 3-page form that you receive after applying for a mortgage. Your lender is required to issue you a Loan Estimate no later than 3 business days once they receive 6 key pieces of information from you.
The Loan Estimate tells you important details about the loan you have requested such as interest rate, monthly payments, total closing costs, taxes, and insurance.
What Information do I Have to Provide to Receive a Loan Estimate?
A lender will issue you a Loan Estimate within 3 business days of you providing 6 pieces of information:
- your name
- your income
- your Social Security Number (so the lender can pull a credit report)
- the property address
- an estimate of the value of the property (often the lender will know this), and
- the loan amount
Note: You will not receive a Loan Estimate for certain loans such as a reverse mortgage, HELOC, a manufactured housing loan not secured by real estate, or a loan through certain types of homebuyer assistance programs.
Loan Estimate Example
What do I do When I Receive my Loan Estimate?
As soon as you receive your Loan Estimate, upload the 3 pages and order your Home Loan Review!
It’s easy as 1, 2, 3
- Click Buy Now!
- Enter your information
- Upload your Loan Estimate