Finance
Under TRID, the Loan Estimate provided to a Texas homebuyer within three business days of application includes which of the following key disclosures?
AThe final closing costs guaranteed by the lender
BThe estimated interest rate, monthly payment, total closing costs, and other loan terms✓ Correct
CThe buyer's credit score and income verification
DThe property's appraised value
Explanation
The TRID Loan Estimate (replacing the Good Faith Estimate) provides borrowers with estimated interest rate, projected monthly payments, total estimated closing costs (origination charges, services, taxes, prepaids), and other key loan terms. It allows borrowers to compare loan offers and understand costs before committing to a loan.
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