Compare Loan Estimates Side by Side
Two ways to line up competing offers: a free in-browser comparison tool, or a written side-by-side prepared from the Loan Estimates you upload.
A Loan Estimate is the standardized three-page form that every lender and mortgage broker must give you within three business days of an application. Because the Consumer Financial Protection Bureau designed it, the layout is identical everywhere: Page 1 covers the rate, payment and cash to close; Page 2 breaks closing costs into lettered sections A through J; Page 3 shows the APR, total interest percentage and a five-year "Comparisons" box.
Even so, two Loan Estimates rarely line up cleanly. One lender may quote a lower rate with points baked into Section A, another may offer a lender credit against a higher rate, and the estimates for taxes, prepaids and escrow can differ simply because each one guessed a different closing date. Reading the total cash-to-close figure alone can point you at the wrong offer.
This page does two things. The comparison tool below takes the figures you type from each Loan Estimate and recalculates payment, lender-controlled costs, five- and ten-year cost and a points break-even so the offers are measured the same way. If you would rather have someone go through the documents, you can upload them for a written side-by-side from a licensed loan originator at PMF, Inc.
Loan Estimate comparison tool
Type the figures from Page 1 and Page 2 of each Loan Estimate. Results update as you type. Leave optional fields blank if the estimate does not show them.
Enter a loan amount and interest rate for at least two offers to see a comparison.
| Measure | Offer A | Offer B | Offer C |
|---|---|---|---|
| Principal & interest per month | — | — | — |
| P&I plus mortgage insurance | — | — | — |
| Section A total after lender credits | — | — | — |
| Sections A + B + C total | — | — | — |
| Effective lender cost (A minus credits) | — | — | — |
| Prepaid interest (reference only) | — | — | — |
| 5-year total cost | — | — | — |
| 10-year total cost | — | — | — |
| Break-even vs. other offer | — | — | — |
How the numbers are built. Payment is principal and interest at the entered rate and term; ARM offers are treated as if the start rate held for the whole comparison window. Five- and ten-year cost = (P&I + mortgage insurance) × months, plus Sections A + B + C minus lender credits, minus the principal you would have paid down over that window. Break-even divides the difference in up-front cost between two offers by the difference in monthly payment, so it only appears when one offer costs more up front and less per month. Prepaid interest depends on your closing date and is shown for reference but is not included in the totals.
This tool compares only the numbers you enter. It does not evaluate whether either lender's fees are accurate or final, and it is not a Loan Estimate.
Rates shown could change or may not be available at commitment or closing. Payment figures exclude taxes and insurance; your actual monthly obligation will be greater.
Get a written comparison from a licensed originator
Upload the Loan Estimates you have received and Brendin Straubel (NMLS #1757609) at PMF, Inc. will send back a written side-by-side of the rate, APR, lender charges, credits and five-year cost, with notes on anything worth asking each lender about.
What happens next, and how we handle your documents
- Your documents are reviewed by Brendin Straubel (NMLS #1757609) at PMF, Inc. d/b/a Pioneer Mortgage Funding.
- You receive a written side-by-side by email within one business day.
- Uploaded documents are stored encrypted and deleted automatically after 30 days. You can ask for earlier deletion at [email protected].
- We do not sell your information or your documents.
- The written comparison is a fee worksheet, not a Loan Estimate. PMF, Inc. issues a Loan Estimate only after a complete application.
Loan Estimate questions
What is a Loan Estimate?
A Loan Estimate is the three-page disclosure a lender or broker must send within three business days after receiving your application. Page 1 shows the loan terms, projected payments and estimated cash to close. Page 2 itemizes closing costs in lettered sections (A through J). Page 3 includes the APR, total interest percentage and a "Comparisons" box showing what you will have paid in principal, interest, mortgage insurance and loan costs after five years. The form is standardized by the Consumer Financial Protection Bureau so that every lender presents the same information in the same place.
How do I compare two Loan Estimates apples to apples?
Compare offers that were issued on the same day for the same loan amount, term, program and property, because pricing moves daily. Then line up the interest rate, the APR, Section A (the fees the lender controls, including points), any lender credits in Section J, and the five-year cost figure on Page 3. Ignore Sections E, F and G for the comparison itself: taxes, prepaids and escrow deposits are set by the property and closing date, not the lender, and will end up nearly identical no matter who you choose.
What is the difference between the interest rate and the APR?
The interest rate is what your monthly principal-and-interest payment is calculated from. The APR (annual percentage rate) is the interest rate plus most lender fees, points and mortgage insurance, spread across the full loan term and expressed as a yearly rate. A large gap between the rate and the APR usually means higher up-front costs. Two offers with the same interest rate but different APRs are not the same deal; the APR is a useful tie-breaker, though it assumes you keep the loan for the full term.
What are discount points and lender credits?
Discount points are money paid at closing to buy a lower interest rate; they appear in Section A. Lender credits are the opposite: the lender pays part of your closing costs in exchange for a slightly higher rate, and they appear as a negative number in Section J. Neither is inherently better. Points tend to pay off if you keep the loan well past the break-even point; credits tend to make sense if cash at closing is tight or you expect to sell or refinance within a few years.
Which fees on a Loan Estimate can change before closing?
Federal rules (TRID, the TILA-RESPA Integrated Disclosure rule) sort fees into three groups. Fees that generally cannot increase at all: the lender's own charges in Section A, transfer taxes, and fees for services you were not allowed to shop for (Section B). Fees that can increase by a combined total of no more than 10 percent: recording fees and charges for third-party services you could shop for but selected from the lender's written provider list. Fees with no limit: prepaid interest, property insurance premiums, escrow deposits, and services from a provider you chose on your own. A lender may re-disclose with new figures only when a valid changed circumstance occurs, such as a rate lock, an appraisal issue or a change you requested.
Can I negotiate a Loan Estimate?
Often, yes. Section A fees and points are set by the lender and are the most common things that move when a borrower presents a competing written offer. Third-party charges in Sections B and C are usually pass-through costs with less room, although you can shop Section C yourself. Asking a lender to match a specific figure from a competing Loan Estimate is a normal request; the answer depends on that lender's pricing that day and the differences between the two loans.