The loan process
Loan Estimate
Also called: LE
In short
The Loan Estimate is a standardized three-page form a lender must send after you apply. It lays out the rate, payment, and closing costs so you can compare offers.
The Loan Estimate is a federally standardized disclosure a lender must provide within three business days of your application. Its fixed format — the same layout at every lender — is what makes offers genuinely comparable.
It shows the loan amount, interest rate, projected monthly payment, and an itemized estimate of closing costs and cash to close, along with whether key terms can change. Reading two side by side is the cleanest way to compare lenders.
Later, the Closing Disclosure restates these numbers in final form; comparing the two catches anything that moved between application and closing.
Related
Current as of August 2026.