Final answer:
The correct answer is that the final Loan Estimate must be received at least three business days before consummation. This time allows borrowers to understand their mortgage's terms and costs.
Step-by-step explanation:
The final Loan Estimate must be received no less than three business days before consummation. Hence, the correct answer to the question is (A) 3.
In relation to mortgage terms, the length of the mortgage is typically either 15 years or 30 years.
Understanding the factors that affect credit is essential when considering long-term financial commitments such as mortgages.
Receiving the Loan Estimate in a timely manner is crucial because it allows borrowers to review the terms and costs associated with the loan, ensuring they are fully informed before the loan consummation.