BUS 125 WTCC Loan Estimate Fees Interest Rate & Closing Disclosure Discussion

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BUS 125 WTCC Loan Estimate Fees Interest Rate & Closing Disclosure Discussion

bus 125, Business Finance

BUS 125 WTCC Loan Estimate Fees Interest Rate & Closing Disclosure Discussion

Question Description

Buying your first home is a big step. Answer the following question with 4-6 lines explaining the difference between the Loan Estimate (which you are given when you apply for a loan) vs. the Closing Disclosure. Here is the best website explaining the two documents. https://files.consumerfinance.gov/f/documents/cfpb_kbyo_guide-loan-estimate-and-closing-disclosure-forms_v2.0.pdf

1. Describe one or two ways they are different?
2. Can the fees and interest rate on the Closing Disclosure be different than what you were given on the LE (Loan Estimate)?

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