The Loan Estimate (LE) is a standardized form required by the TILA-RESPA Integrated Disclosure (TRID) rule, which lenders must provide within three business days after receiving a mortgage application. This document helps improve transparency by outlining the essential details of a mortgage offer, including loan terms, projected monthly payments, closing costs, and cash required at closing. The LE includes the loan amount, interest rate, term, and any special features like prepayment penalties or adjustable-rate details. It also breaks down the estimated monthly payments covering principal, interest, and escrows for taxes and insurance, alongside a detailed list of expected closing costs. This estimate aids borrowers in understanding the full financial implications of their potential mortgage, ensuring informed decision-making in the home buying process.