What’s Better Than a Loan Estimate?

In this clip from Mortgage School, D.O. teaches the class that early on in the home buying process, loan officers do not need to rely on LEs to accurately explain the cost of a transaction. Loan estimates (LEs) can be confusing and aren’t necessary if there’s not a subject property identified – and more specifically – under contract to purchase. A preferred alternative is an itemization fee worksheet. However, a true mortgage pro should be able to rattle off all of the extirpated cost of a transaction.