What is the earliest date a lender can charge a borrower for an appraisal after a Loan Estimate is received?

The lender can charge a borrower for an appraisal after the Loan Estimate has been received, starting the day after the Loan Estimate is provided. The Loan Estimate is a critical document that outlines the estimated costs and terms of the mortgage.

In this case, if the Loan Estimate is received on a particular day—let’s say Tuesday—the earliest that the lender can charge for the appraisal would be Wednesday. This timing is established by regulations to ensure that borrowers have ample time to review the Loan Estimate before incurring any fees.

Understanding this timeline is crucial for both borrowers and lenders, as it helps to facilitate transparency in the mortgage process and ensures that borrowers are not caught off guard by immediate charges.