Negotiation & Due Diligence

Loan Estimate Comparison Sheet (PDF)

Mortgage offers can be hard to compare — one lender highlights a lower rate, another shows lower fees, and the APR doesn’t always tell the full story. This printable Loan Estimate Comparison Sheet lets you line up multiple offers side by side, track fees, credits, and true cash-to-close, and make a confident choice. Download the PDF template at the bottom of this page.

Why compare Loan Estimates?

A Loan Estimate (LE) is a standardized, three-page document lenders must provide within three days of application. It shows your interest rate, APR, fees, and expected cash to close. Comparing at least 2–3 lenders can save you thousands. The challenge? Each lender presents costs differently. A structured comparison sheet ensures you see the full picture.

What to track in your comparison

  • Interest Rate vs APR: Rate impacts monthly payment; APR includes fees spread over loan life.
  • Origination & points: One-time fees that can significantly change cost.
  • Lender credits: Offsets that reduce upfront cost but may raise the rate.
  • Third-party fees: Title, appraisal, credit report — often similar across lenders but should be verified.
  • Prepaids: Taxes and insurance escrow requirements.
  • Estimated cash to close: The bottom-line number to bring to settlement.
Pro Tip: Compare same-day Loan Estimates. Rates change daily, so align quotes by requesting them all on the same day.

How to use this sheet

  1. Request official Loan Estimates from at least 2–3 lenders.
  2. Enter details in each column of the sheet (Rate, APR, Points, Fees, Credits).
  3. Note differences in cash to close and recurring monthly costs.
  4. Add comments about service: response time, lock policy, lender reputation.
  5. Review with your loan officer or advisor to clarify differences.

Example scenario

Lender A offers 6.25% with $3,500 in origination fees, while Lender B offers 6.375% with no origination fees but higher title costs. The APRs look similar, but your comparison sheet shows that cash to close is $2,000 lower with Lender B — a big deal if you’re tight on funds.

FAQs

How many Loan Estimates should I collect?

At least 2–3. Some buyers collect 4–5 for maximum leverage. Even a 0.25% difference in rate can save thousands over the life of a loan.

Will rate shopping hurt my credit?

No, not if done within a 45-day window. Multiple mortgage inquiries in this period are treated as a single inquiry by credit scoring models.

Should I only look at APR?

APR is a useful baseline, but not the whole story. Always check cash to close and recurring costs in addition to APR.

Disclaimer: Educational use only — not a substitute for professional mortgage advice. Confirm all loan terms with your lender before making decisions.