An updated Loan Estimate issued when mortgage terms or charges change for a valid reason before closing.
A revised Loan Estimate is an updated Loan Estimate issued when mortgage terms or charges change for a valid reason before closing.
A revised Loan Estimate matters because borrowers often see numbers move between the first estimate and the final disclosure without knowing whether the lender was allowed to update the earlier form.
It also matters because the document is not just a courtesy refresh. A revised Loan Estimate is part of the compliance path that links a valid Changed Circumstance to later fee comparisons and tolerance analysis.
This page matters because borrowers often understand that something changed but not what the lender was supposed to issue in response. The revised Loan Estimate is the bridge between the original estimate and the final Closing Disclosure.
Borrowers encounter a revised Loan Estimate after the original estimate has already been issued but before the file reaches the final closing-disclosure stage.
The term becomes practical when loan terms, settlement charges, or transaction facts change and the lender sends an updated estimate instead of relying on the original numbers.
It is especially relevant when borrowers compare the new estimate with the original one and want to know whether the later Closing Disclosure should be judged against the old baseline or the revised one.
| Term | What it answers for the borrower |
|---|---|
| Loan Estimate | What were the early projected terms and costs? |
| Revised Loan Estimate | What changed before closing, and what new estimate replaced the earlier one? |
| Changed Circumstance | Was there a valid reason to revise the estimate at all? |
| Closing Disclosure | What are the near-final terms and charges right before closing? |
| Tolerance Cure | What fixes the problem if the final charges still exceeded the allowed range? |
A borrower receives an initial Loan Estimate for a purchase mortgage. Later, the borrower chooses a different lock period and the settlement figures change in a way the rules allow. The lender issues a revised Loan Estimate showing the updated pricing and costs before the borrower receives the final Closing Disclosure.
A revised Loan Estimate differs from a Loan Estimate because the original form sets the early baseline, while the revised version updates that baseline after a valid change.
It also differs from a Changed Circumstance. A changed circumstance is the reason revision may be allowed, while the revised Loan Estimate is the updated document the borrower actually sees.
It also differs from the Closing Disclosure. A revised Loan Estimate still belongs to the estimate stage, while the Closing Disclosure is the later near-final disclosure used right before closing.
It also differs from a Tolerance Cure. A revised Loan Estimate can be part of a valid update path before a problem exists, while a tolerance cure is the correction after the final charges exceed what the rules allow.