How long do the fees and charges remain valid from the issue date of the Loan Estimate?

The fees and charges listed on the Loan Estimate remain valid for 10 business days from the issue date. This time frame is important as it provides borrowers with a period during which they can review the costs associated with their potential loan. During these 10 business days, borrowers can make informed decisions without the concern that the terms will change immediately.

After this period, the lender may adjust the fees based on changes in the market, borrower’s creditworthiness, or other factors. Understanding this timeline ensures that borrowers are aware of the stability in the costs as they proceed with their loan application, providing clarity and confidence in their financial planning.

This reflects the guidelines established under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA) regulations, aimed at promoting transparency and protecting consumers in the mortgage lending process.