Tue Jan 28 2020

Why is it necessary to ask for a "loan estimate" when comparing mortgages?

Why is it necessary to ask for a "loan estimate" when comparing mortgages?

By Joel

Why is it necessary to ask for a "loan estimate" when comparing mortgages?

This is because the loan estimate varies from one lender to another. The normally 3-page document that gives you detailed information like the estimated interest, monthly payments and total closing cost can give you a fair idea when choosing the lender for your mortgage.

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