Mortgage disclosures

Loan Estimate and Closing Disclosure: compare before you sign

The Loan Estimate helps you compare mortgage offers before choosing a lender. The Closing Disclosure arrives near closing and should be compared with the latest Loan Estimate before signing. This page keeps the comparison focused on the fields that often change decisions.

By CashTalks ·

Loan Estimate

Used for shopping and comparing estimated loan terms and costs.

Closing Disclosure

Used near closing to review final loan details and cash needed to close.

Local table

Compare two offers locally; no numbers are sent unless you choose the Penny CTA.

Loan Estimate comparison table

Compare two mortgage offers side by side

Enter two offers from official Loan Estimates. The table compares loan amount, rate, APR, term, points, lender credits, cash to close, closing costs, and monthly principal and interest.

Offer A

$
%
%
%
$
$
$
$

Offer B

$
%
%
%
$
$
$
$

Caution

  • Compare official Loan Estimates using the same loan amount, loan type, lock status, and term when possible.
  • APR can help compare cost, but cash to close, escrow items, credits, and services you can shop for still need review.
  • A lender credit can lower cash to close while increasing the rate or total cost over time.

Loan amount

Offer A

$360,000

Offer B

$360,000

Interest rate

Offer A

6.75%

Offer B

6.95%

APR

Offer A

6.98%

Offer B

7.08%

Term

Offer A

30 years

Offer B

30 years

Points cost

Offer A

$1,800

Offer B

$0

Lender credits

Offer A

$0

Offer B

$2,500

Cash to close

Offer A

$72,000

Offer B

$68,500

Closing costs

Offer A

$9,800

Offer B

$10,400

Monthly P&I

Offer A

$2,335

Offer B

$2,382

Educational assumptions

  • Use numbers from official Loan Estimates or Closing Disclosures when possible, not informal worksheets.
  • Monthly principal and interest can be entered directly; if left at zero, the tool estimates it from amount, rate, and term.
  • APR, cash to close, closing costs, lender credits, and services you can shop for answer different questions.
  • This comparison does not verify approval, rate lock, escrow accuracy, underwriting conditions, or final closing-table numbers.

Compare official forms, not informal worksheets

A Loan Estimate gives a standardized view of loan amount, rate, APR, payment, closing costs, cash to close, points, credits, and services. It is easier to compare than a custom worksheet.

When possible, ask for offers based on the same property, loan amount, loan type, term, points, and lock assumptions.

Cash to close and monthly payment answer different questions

The lowest cash to close may come with a higher rate or lender credit. The lowest monthly payment may come from points, a longer term, or a different loan structure.

APR can help compare cost, but it still does not replace reviewing cash to close, escrow items, prepaids, and services you can shop for.

Use the review window

Before closing, compare the Closing Disclosure with the most recent Loan Estimate. Check spelling, loan amount, rate, payment, closing costs, cash to close, escrow items, prepayment penalties, and balloon-payment fields.

If something is wrong or unexpected, contact the lender or settlement agent before signing.

FAQ

Does the table choose the best offer?

No. It highlights lower monthly payment, lower cash to close, lower APR, and lower closing costs. The best choice depends on goals, risk, time horizon, cash reserves, and final terms.

Can costs change between Loan Estimate and Closing Disclosure?

Some costs can change. Review the final disclosure carefully and ask the lender or settlement agent to explain changes before closing.

Official Resources