A Loan Estimate, commonly known by its acronym “LE”, is the federally mandated (and notoriously inaccurate) cost estimate & accompanying disclosures lenders are required to provide. The initial LE is required with 3 days of the loan’s registration, and subsequent LEs will be distributed whenever a significant change or checkpoint occurs in your loan.

The following is a great interactive tool explaining how to read and understand the documents. For further info/explanation you can also watch my video. The LEs are the government's way of ensuring you as a consumer are kept in the loop as the loan progresses- you are likely to see several of these as the loan comes together and costs are dialed in.

*Note: The Loan Estimate is simply an estimate, and nothing you're signing is an agreement of terms.