What is a Loan Estimate?

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This 3-page document shows you the most important information about your preliminary loan. You can locate your interest rate, monthly payment, and costs of the loan. Its standard form that all lenders are required by law to provide you within three business days of submitting your loan. This document will allow you shop different lenders but also locks in the lender fees disclosed to you. This will stop anyone from being able to pull a bait and switch.