Which of the following is the primary goal for a consumer when reviewing a Loan Estimate?

The primary goal for a consumer when reviewing a Loan Estimate is to check for accuracy of personal and transaction information and understanding of the loan terms. This document is essential as it provides a clear breakdown of the estimated costs and terms associated with the mortgage, allowing the borrower to grasp the specifics of what they are agreeing to.

Understanding the accuracy of personal and transaction information is crucial because any discrepancies can lead to issues later in the mortgage process. Additionally, comprehending loan terms such as interest rates, monthly payments, and total loan costs enables consumers to make informed decisions about whether the loan fits their financial situation and goals.

While determining which costs can be negotiated with the seller, evaluating the lender's ability to service the loan, and selecting service providers from a list are also important aspects of the homebuying process, they are secondary to ensuring that the Loan Estimate itself is correct and understandable. The clarity and correctness of the Loan Estimate directly influence the consumer's ability to make well-informed financial decisions.