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Comparing loan offers

Fine-tune your loan offers

Loan Estimates are just offers — they’re not set in stone. If the loans you’ve been offered don’t fit your needs or are different from what you asked for, don’t hesitate to go back to your lenders and ask for a different option.

What to do now

Confirm your loan option and approach to points or credits

Earlier, you chose a strategy for your loan option and points or credits. If you missed that step, if a lender gave you something different than what you asked for, or if you're not sure you made the right decision, it's not too late.

  • If you're unsure about what your strategy should be, revisit our earlier action steps on loan optionspoints and credits, and how to select the kind of loan that's best for you.
  • If you think you might be better off with something different than what is reflected on your Loan Estimate, go back to each of your lenders and ask to see a Loan Estimate that more closely matches your ideal scenario.

Consider negotiating

If you feel most comfortable with one lender but another has a better offer, go back to your preferred lender to see what they can do.

  • Your best bargaining chip is usually having Loan Estimates from other lenders in hand.

What to know

Getting Loan Estimates from multiple lenders increases your bargaining power

Multiple Loan Estimates help you understand all your options and give you alternatives if your preferred lender is unable to accommodate your needs.

If you're planning to go back to your lenders to ask for something a little different, use our resources to plan what to ask for

You want to be able to give the lender a good idea of what you're looking for, so the next offer you receive is a better match. Check out these resources:

How to avoid pitfalls

Stay alert for warning signs

If what a Loan Estimate says is very different from what you discussed with your loan officer, be wary. Ask questions and trust your gut. It could be a simple miscommunication, or it could be a sign that you should consider choosing a different lender.

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.