How long is the required waiting period after providing a Loan Estimate before a borrower can close on a loan?

The correct waiting period after providing a Loan Estimate before a borrower can close on a loan is three business days. This requirement is part of the TILA-RESPA Integrated Disclosure (TRID) rules, which were implemented to ensure that borrowers have enough time to review loan terms and make informed decisions.

The waiting period begins the day after the Loan Estimate is delivered to the borrower. This three-business-day window is intended to give borrowers the opportunity to thoroughly analyze the costs associated with the loan and to shop around if necessary. It helps prevent rushed decisions and promotes transparency in the lending process.

The other options do not align with the established regulations under TRID; therefore, they are not the correct answer regarding the mandatory waiting period before closing a loan after the Loan Estimate has been provided.