Step 3

Comparing loan offers

Once you are ready to move forward with your home purchase, it’s time to choose a mortgage loan and a lender.

A Loan Estimate is a standardized form that tells you important details about your loan offer. Our guide tells you what to look for when comparing your offers and how to negotiate your offer.

Goals for this phase

  Request Loan Estimates from multiple lenders

  Compare offers and fine-tune your options

  Choose a loan offer

Action steps

Follow the steps below to get and compare Loan Estimates from different lenders. 

Tools for this phase

Interest rate explorer

Our tool shows you a range of rates you may expect to receive for different loan options.

Loan Estimate explainer

Our interactive sample form helps you double-check the details and get definitions for terms used on the Loan Estimate form.


Visit our sources page to learn more about the facts and numbers we reference.

The process and forms described on this page reflect mortgage regulations that apply to most mortgages.