Finance
A Colorado buyer's 'good faith estimate' (now called the Loan Estimate under TRID) must include all of the following EXCEPT:
AA. Projected monthly payment
BB. Estimated closing costs
CC. The final, guaranteed interest rate✓ Correct
DD. Loan terms and type
Explanation
The Loan Estimate (required by TRID within 3 business days of application) includes projected monthly payments, estimated closing costs, loan terms, and other key information. It is NOT a final, guaranteed interest rate — rates can change until they are locked. The Loan Estimate may show a locked or unlocked rate, but it is not a commitment.
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