Final answer:
A loan estimate includes loan term, interest rate, homeowner's insurance, property tax, utility bills, car payments, monthly income, and credit score.
Step-by-step explanation:
The set of items that appears on a loan estimate includes:
- Loan term: This refers to the length of time a borrower has to repay the loan.
- Interest rate: This is the percentage of the loan amount that the borrower must pay as interest.
- Homeowner's insurance: This is insurance coverage that protects the borrower's property against loss or damage.
- Property tax: This refers to the tax paid by the homeowner on their property.
- Utility bills: These are the bills for services such as electricity, gas, and water that the homeowner must pay.
- Car payments: These are the monthly payments made to pay off a car loan.
- Monthly income: This is the amount of money the borrower earns on a monthly basis.
- Credit score: This is a numerical representation of an individual's creditworthiness.