Compare the same scenario
Use the same loan amount, property type, occupancy, down payment and rate-lock assumptions when comparing lenders. Different inputs can make offers look unlike one another.
BORROWER CHECKLIST
Compare mortgage offers line by line.
A Loan Estimate makes it easier to review the costs and terms a lender has disclosed.
COMPARE LOAN ESTIMATES
A clearer view of the decision.
Review page one
Compare loan amount, interest rate, monthly principal and interest, projected payments, estimated taxes and insurance, and cash to close. Confirm what is included and what may change.
Review page two
Compare origination charges, services the borrower cannot shop for, services the borrower can shop for, lender credits, other costs, and the “In 5 Years” figures. Ask the lender to explain items you do not recognize.
Verify assumptions and timing
Ask whether the rate is locked, until what date, and under what conditions. Confirm whether estimates, credits or fees are expected to change. A Loan Estimate is not a final approval.
Further reading: Consumer Financial Protection Bureau: compare and negotiate loan offers ↗
EF
Edge Home Finance, LLC · Company NMLS #891464
Sergio Abbud is listed as licensed in Texas. Individual license number and current status should be confirmed with the lender before publication.