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