Finance
In Tennessee, a lender must provide the borrower with a Loan Estimate within how many business days of receiving a complete loan application?
A1 business day
B3 business days✓ Correct
C7 business days
D10 business days
Explanation
Under TRID rules, lenders must provide the Loan Estimate to the borrower within 3 business days of receiving a complete loan application. The Loan Estimate must be received at least 7 business days before closing.
Related Tennessee Finance Questions
- Negative amortization occurs when:
- A construction-to-permanent loan is a financing arrangement in which:
- A mortgage assumption allows a buyer to:
- Private Mortgage Insurance (PMI) is typically required when:
- A USDA Rural Development loan is designed to help:
- In Tennessee, an 'interest-only' mortgage requires the borrower to pay:
- In Tennessee, a 'bridge loan' is typically used when:
- In Tennessee, the 'loan-to-cost' (LTC) ratio used in construction lending compares the:
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →