When you get your purchase or refi-ready approval, you’ll also see your Loan Estimate (LE).

Your LE shows your loan amount, interest rate and monthly payment and gives you a breakdown of your closing costs. Because all lenders are required to use the same standard 3-page LE format, it makes it easier to compare home loans.

Lenders are legally bound by the LE and required to give it to you within 3 days of your loan application, so it’s pretty important. Find a sample one here.
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