The Top 5 Questions You Should Ask Before Accepting a Loan Estimate

The loan estimate is the top loan you can get approved for. It’s the most important part of the loan process and can make or break your ability to get a loan.

What triggers a loan estimate?

The six items are the borrower’s name, address for the property, estimated property value, social security number (for a credit report), and the amount of the loan requested.

When you can issue a revised loan estimate.

Only if the original disclosures made it apparent and obvious that the lender might make revised disclosures at any point prior to 60 days before consummation are they eligible for a revised loan estimate. The lender is not permitted to release updated disclosures if no such statement is offered.

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