Loan Estimate & Intent to Proceed

Hi Everyone,

I’m helping a relative shop for a mortgage. My relative applied with a lender that sent them a document with a breakdown of the costs but this document wasn’t a Loan Estimate. I asked the loan officer when they would send a Loan Estimate and the loan officer said after my relative provided intent to proceed. I thought I read the lender has to provide you with a loan estimate within 3 days of applying? Am I missing something? Should I be wary of this lender?

Thanks!

submitted by /u/rcg8tor
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Hi Everyone, I’m helping a relative shop for a mortgage. My relative applied with a lender that sent them a document with a breakdown of the costs but this document wasn’t a Loan Estimate. I asked the loan officer when they would send a Loan Estimate and the loan officer said after my relative provided intent to proceed. I thought I read the lender has to provide you with a loan estimate within 3 days of applying? Am I missing something? Should I be wary of this lender? Thanks! submitted by /u/rcg8tor [link] [comments]

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