What booklet must be provided to the applicant at application or within 3 business days of application for purchase transactions?

The correct answer is the Tool Kit. The Tool Kit, officially known as "Your Home Loan Toolkit: A Step-by-Step Guide," is a resource mandated by the Consumer Financial Protection Bureau (CFPB) that must be provided to applicants during the mortgage application process for purchase transactions. It is designed to educate borrowers about the home loan process, including key terms, steps involved, and important considerations. This ensures that applicants are well-informed about what to expect throughout their homebuying and mortgage processes.

The requirement to provide this document at the time of application or within three business days serves to enhance transparency and empower consumers to make informed decisions about their financial commitments. By offering this guide, lenders help to foster a better understanding of the lending process, which can ultimately lead to better borrower satisfaction and reduce the likelihood of misunderstandings.

In the context of the other options, while they may refer to similar informational materials, they do not meet the specific regulatory requirement set forth by the CFPB regarding the timeline and content relevant to home loan applications.