Loan Estimate
Also called: le, loan estimate form
A standardized three-page disclosure showing a loan’s rate, payment, and closing costs in a fixed format.
Lenders must provide a Loan Estimate shortly after an application, and the format is identical across lenders, which makes it the only reliable way to compare two offers line by line.
Compare the rate, the APR, the total closing costs, and the cash to close together. A quote delivered as a text message or a screenshot is not a Loan Estimate and is not comparable.
Related terms
- APR (Annual Percentage Rate)The yearly cost of a loan expressed as a percentage, including the interest rate plus most lender fees.
- Closing DisclosureThe final statement of your loan terms and closing costs, provided a set number of days before closing.
- Closing costsThe lender, title, and third-party fees due at closing: separate from your down payment.
- Origination feeThe lender’s charge for processing and underwriting the loan, shown in the closing cost section of the Loan Estimate.
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Ondo handles brokerage, lending, property management and notary under one roof, so the answer does not change depending on who you ask.
Loan information is provided by Ondo Real Estate (NMLS ID on file). This is not a commitment to lend, a loan approval, or an offer of credit. Rates, terms, and payments shown are estimates for illustration only, are not a quote, and are subject to credit approval, underwriting, and market conditions. You are not required to use Ondo for financing to buy or sell with Ondo. Equal Housing Lender. Program rules, fees, and county loan limits change. Confirm the current published schedule and lender overlays. Nothing here is a quote, a lock, or a credit decision. Licensing and disclosures