Key Takeaways - Lenders are required to provide a Loan Estimate within three business days of receiving your application - The document is standardized — every lender uses the same format so you can compare accurately - Page 1 shows your loan terms and projected payments - Page 2 breaks down every closing cost with which ones are negotiable - Page 3 shows cash to close and comparisons to help you shop The Loan Estimate is one of the most useful documents in the mortgage proc

Key Takeaways - A rate lock guarantees your interest rate for a set period — usually 30 to 60 days - Rates can move significantly between application and closing — a lock protects you - Locking too early can be costly if the deal takes longer than expected - Float-down options let you capture a lower rate if market rates drop after you lock - Talk to your loan officer before deciding when to lock Mortgage rates change daily, sometimes significantly. A rate lock is the mechan