Reviewed by Jeff Shin, NMLS #1041652. Updated .
Also called: LE.
What each page shows
- Page 1. Loan terms, the projected monthly payment broken into its parts, and estimated cash to close.
- Page 2. Closing cost details. Origination charges, including points, are in section A. Lender credits appear under total closing costs. ARMs add an Adjustable Interest Rate table.
- Page 3. Comparisons, including the APR, plus other loan details.
How to compare two Loan Estimates
Line them up on the same loan amount, loan type, and lock period. Then compare section A on page 2 and the APR on page 3. A low rate with a large section A is often the same price as a higher rate with none. You can have more than one lender pull your credit while you shop: the CFPB says multiple mortgage credit checks within 45 days count as one inquiry. Or have your Loan Estimate checked.
Loan Estimate vs. Closing Disclosure
The Loan Estimate comes at the start. The Closing Disclosure comes at least three business days before closing with the final numbers. Keep your Loan Estimate so you can check what changed.
Related terms
Related on BankPricer
- Check my Loan Estimate
- I have a Loan Estimate. Is this a good deal?
- A Loan Estimate that looks cheap until page 2
Sources
Definitions on this page are summarized from the agencies that set the rules. Lenders can add stricter requirements. Checked October 7, 2026.
Not sure which of these applies to you?
That is usually the actual question. Send the situation rather than the product name — purchase or refinance, primary or investment, price range, and timeline — and you get the structures that fit, with what each one costs.