What Is A Loan Estimate (LE) And Closing Disclosure (CD)?

A Loan Estimate (LE) is a three-page form that you will receive after applying for a mortgage. This document details the terms of your loan, including monthly mortgage payment, interest rate and fees, and estimated closing costs. 

A Closing Disclosure (CD) is one of the final documents you will see before the loan process is over. This is in the same format as your Loan Estimate and confirms the terms and costs of your loan.  It also provides a comparison to the figures from your Loan Estimate so you can easily see any changes. 

The Consumer Financial Protection Bureau has provided detailed explanations of both the Loan Estimate and Closing Disclosure.