Loan Estimate
A document detailing loan terms, costs, and other financial information.
Last updated
December 2, 2024
The Loan Estimate (LE) is a crucial document that provides borrowers with important information about the key features, costs, and risks associated with a mortgage loan. Required by the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA), the LE must be provided to borrowers within three business days after they apply for a loan. This document helps borrowers understand their loan options and compare different offers, ensuring informed financial decisions.
The Loan Estimate includes a breakdown of the total estimated costs associated with the loan, including the loan amount, interest rate, monthly payment, and estimated closing costs. Its purpose is to enhance transparency in the lending process and facilitate easier comparison between various mortgage offers.
Extractable Data Fields
Below is a table listing the key data fields that Vaultedge can extract from the Loan Estimate document. Please refer to the table below for detailed information.
|
| Date Issued | Yes | date |
| Borrower Name | Yes | text |
| Property Address | Yes | text |
| Sale Price | Yes | amount |
| Loan Term | Yes | text |
| Loan Purpose | Yes | text |
| Product Type | Yes | text |
| Loan Number | Yes | text |
| Loan Amount | Yes | amount |
| Interest Rate | Yes | text |
| Principal And Interest | Yes | text |
| Estimated Total Monthly Payment | Yes | amount |
| Estimated Closing Costs | Yes | amount |
| Estimated Cash To Close | Yes | amount |
| Origination Charges | Yes | amount |
| Loan Amount Points | Yes | amount |
| Underwriting Fee | Yes | amount |
| Services You Can't Shop For | Yes | amount |
| Appraisal Fee | Yes | amount |
| Services You Can Shop For | Yes | amount |
| Title Lend Title Policy | Yes | amount |
| Title Sett Agent Fee | Yes | amount |
| Title Insurance Binder | Yes | amount |
| Title Title Search | Yes | amount |
| Total Loan Cost | Yes | amount |
| Taxes And Other Govt Fee | Yes | amount |
| Recording Fee Other Taxes | Yes | amount |
| Prepaids | Yes | amount |
| Homeowners Ins Premium | Yes | amount |
| Application Fee | Yes | amount |
| Credit Report Fee | Yes | amount |
| Homeowners Insurance | Yes | amount |
| Homeowners Insurance1 | Yes | amount |
| Interest on Escrow Payment At Closing | Yes | amount |
| Mortgage Insurance | Yes | amount |
| Mrtg Ins Premium | Yes | amount |
| Origination Fee | Yes | amount |
| Other | Yes | amount |
| Property Taxes | Yes | amount |
| Property Taxes1 | Yes | amount |
| Survey Fee | Yes | amount |
| Total Closing Cost | Yes | amount |
| Transfer Taxes | Yes | amount |
| Lender Name | Yes | text |
| Lender Nmls ID | Yes | text |
| Lender Loan Officer Name | Yes | text |
| Lender Loan Officer ID | Yes | text |
| Email | Yes | text |
| Phone | Yes | number |
| Mortgage Broker Name | Yes | text |
| Mortgage Broker Nmls ID | Yes | text |
| Mrtg Broker Loan Officer | Yes | text |
| Mrtg Broker Loanoff NMLS | Yes | text |
| Annual Percentage Rate | Yes | text |
| Total Interest Percentage | yes | text |
| Grace Days | Yes | number |
| Late Payment Factor | Yes | text |
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