The 3-7-3 Rule is a federally mandated timeline under the Consumer Financial Protection Bureau (CFPB) that protects borrowers from being rushed into signing a mortgage. It establishes specific waiting periods between your application, initial disclosures, and the final loan closing. 

The 3-7-3 Timeline Breakdown

• 3 Days (Application to Estimate): After you submit your application, the lender must provide a Loan Estimate (LE) within 3 business days. This outlines your estimated interest rate, monthly payment, and closing costs.
• 7 Days (Estimate to Closing): You cannot close on your mortgage until at least 7 business days have passed after the initial Loan Estimate is delivered. This gives you time to shop around and review the numbers.
• 3 Days (Final Disclosure to Closing): You must receive your final Closing Disclosure (CD) at least 3 business days before your scheduled closing date. This details your final loan terms and the exact cash you need to bring to closing. 

The Re-disclosure Rule

If your loan terms or the Annual Percentage Rate (APR) change significantly before closing, the lender must issue a revised disclosure. This will trigger an entirely new 3-day waiting period so you have time to review the updated changes before signing.