Finance
A Texas borrower receives a Loan Estimate (LE) within 3 business days of applying for a mortgage. The LE must include:
AThe final interest rate guaranteed by the lender
BEstimated loan terms, projected payments, and closing costs✓ Correct
CThe appraisal report
DThe title commitment
Explanation
Under TRID, lenders must provide a Loan Estimate within 3 business days of a loan application. The LE discloses estimated loan terms, monthly payments, and projected closing costs to allow borrowers to shop and compare.
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