What we verified in “How to compare Loan Estimates, page by page”

Statements and where we checked them

The statements with rules, figures or dates, with the exact place in the source and the date we checked them.

1. According to the CFPB, the Loan Estimate is a three-page form you receive after applying for a mortgage; the lender must provide it within three business days of receiving your application; all lenders must use the same standard form, which makes comparing easier; when you receive it, the lender has not yet approved or denied your application; and you do not receive it for a reverse mortgage, a home equity line of credit (HELOC), a manufactured or mobile home loan not secured by real estate, or a subordinate loan from certain homebuyer assistance programs, where you receive Truth-in-Lending disclosures instead.

   Sources 1 · What is a Loan Estimate? (last reviewed Aug 9, 2024): 'a three-page form that you receive after applying for a mortgage'; 'within three business days of receiving your application'; 'All lenders are required to use the same standard Loan Estimate form'; 'the lender has not yet approved or denied your loan application'; 'A home equity line of credit (HELOC)'; 'A manufactured housing or mobile home loan not secured by real estate'; 'A subordinate loan through certain types of homebuyer assistance programs'; 'you should receive Truth-in-Lending disclosures' · Checked October 17, 2026

2. According to the CFPB, lenders are legally required to give you a Loan Estimate once you provide six pieces of information: your name, your income, your Social Security number (so the lender can pull a credit report), the property address, an estimate of its value and the loan amount you want; they cannot require more, such as a purchase agreement or documents verifying your income; and the more the lender knows about your situation, the more accurate the Loan Estimate will be.

   Sources 2 · What information do I have to provide a lender in order to receive a Loan Estimate? (last reviewed Apr 3, 2024): 'Lenders are legally required to provide you with a Loan Estimate once you have provided six pieces of information'; 'your Social Security number (so the lender can pull a credit report)'; 'an estimate of the value of the property, and the desired loan amount'; 'Lenders cannot require you to provide additional information'; 'you do not have to provide a home purchase agreement or documents verifying your income'; 'The more your lender knows about your situation, the more accurate your Loan Estimate will be' · Checked October 17, 2026

3. Under Regulation Z, for these mortgages an application consists of submitting your name, your income, your Social Security number to obtain a credit report, the property address, an estimate of the property's value and the loan amount you are seeking.

   Sources 3 · 12 CFR §1026.2(a)(3)(ii): 'an application consists of the submission of the consumer's name, the consumer's income, the consumer's social security number to obtain a credit report, the property address, an estimate of the value of the property, and the mortgage loan amount sought' · Checked October 17, 2026

4. Under Regulation Z, the lender must deliver or mail the Loan Estimate no later than the third business day after receiving the application, and no later than the seventh business day before consummation.

   Sources 4 · 12 CFR §1026.19(e)(1)(iii)(A) ('not later than the third business day after the creditor receives the consumer's application') and (B) ('not later than the seventh business day before consummation of the transaction') · Checked October 17, 2026

5. Under Regulation Z, neither the lender nor anyone else may charge you a fee in connection with your application before you receive the Loan Estimate and tell the lender you intend to proceed, except a bona fide and reasonable fee for obtaining your credit report.

   Sources 4 · 12 CFR §1026.19(e)(2)(i)(A) ('neither a creditor nor any other person may impose a fee on a consumer in connection with the consumer's application'; 'indicated to the creditor an intent to proceed') and (e)(2)(i)(B) ('a bona fide and reasonable fee for obtaining the consumer's credit report') · Checked October 17, 2026

6. According to the CFPB, homebuyers can potentially save $600 to $1,200 per year by getting offers from multiple lenders; requesting a Loan Estimate requires no written documentation and no signed purchase agreement; you should tell the lender if anything about your situation is unusual, such as being self-employed, having irregular income or buying a unique type of property; each lender must send the Loan Estimate within three business days; and if it does not arrive in that time, call and ask why.

   Sources 6 · Request and review multiple Loan Estimates (page last modified Jul. 14, 2025): 'Homebuyers can potentially save $600 to $1,200 per year by getting mortgage offers from multiple lenders'; 'no written documentation is required'; 'You do not need a signed purchase agreement to get a Loan Estimate'; 'if you are self-employed, have irregular sources of income, or are purchasing a unique type of property'; 'each lender is required to send you a Loan Estimate within three business days'; 'call the lender and ask why' · Checked October 17, 2026

7. The CFPB recommends asking each lender for the same kind of loan with the same features; sharing what you know about property taxes and condominium or association dues; checking whether the rate is locked, because if it is not it can change at any time; checking the risky features listed under 'Loan Terms' on page 1 and, if there are any, asking for another Loan Estimate without that feature to see the difference; and fixing errors now, because some that seem minor, such as a typo in the address, can affect your rate and costs.

   Sources 6 · Request and review multiple Loan Estimates: 'Ask each lender for the same kind of loan with the same features'; 'Share information about the property taxes'; 'If your rate is not locked, it can change at any time'; 'Certain risky features are listed under Loan Terms on page 1 of the Loan Estimate'; 'Ask the lender to give you another Loan Estimate for a loan without the feature'; 'could seem minor but are actually major errors that could affect your rate and costs' · Checked October 17, 2026

8. According to the CFPB, within a 45-day window, multiple credit checks from mortgage lenders are recorded on your credit report as a single inquiry, so the impact on your credit is the same no matter how many lenders you consult in that time.

   Sources 6 · Request and review multiple Loan Estimates, 'Getting additional Loan Estimates doesn't hurt your credit': 'Within a 45-day window, multiple credit checks from mortgage lenders are recorded on your credit report as a single inquiry'; 'the impact on your credit is the same no matter how many lenders you consult within that timeframe' · Checked October 17, 2026

9. According to the CFPB, when you receive a Loan Estimate the lender has not yet approved or denied your loan, even if your rate is locked; deciding to proceed does not mean you accept the loan or its terms; you are not committed to a lender before you sign the final documents; and lenders can charge slightly more for loans to buy a condo, a home with more than one unit (for example, a duplex) or a manufactured home.

   Sources 6 · Request and review multiple Loan Estimates, 'What to know': 'This is true even if your rate is locked'; 'your decision to proceed does not mean you accept the loan or any of the loan terms'; 'you are not committed to a lender or contractually bound to loan terms before you have signed final documents'; 'Lenders can charge slightly more for loans to buy a condo, a home with more than one unit (for example, a duplex), or a manufactured home' · Checked October 17, 2026

10. The CFPB warns that, by law, the only fee lenders may charge before issuing a Loan Estimate is a small fee for pulling your credit report, and asking you to pay anything else to get a Loan Estimate is against the law; that if a loan officer suggests a different type of loan, you should ask for Loan Estimates for both the original loan and the suggested one; that you should not let anyone persuade you to sign a blank form or a form with blank spaces; and that if you believe you faced illegal credit discrimination you can call your local fair housing agency, file a complaint with HUD's Office of Fair Housing at (800) 669-9777 or with the CFPB at (855) 411-2372.

    Sources 6 · Request and review multiple Loan Estimates, 'How to avoid pitfalls': 'the only fee that lenders are allowed to charge you before issuing a Loan Estimate is a small upfront fee to pay for pulling your credit report'; 'this is against the law'; 'Ask the loan officer to give you Loan Estimates for both the original loan you asked for and the new loan they are suggesting'; 'Don't let anyone persuade you to sign a blank form or a form with blank spaces'; 'Call your local fair housing agency'; 'by calling (800) 669-9777'; 'calling (855) 411-CFPB (2372)' · Checked October 17, 2026

11. The CFPB suggests considering a housing counselor for help reviewing your Loan Estimates, and says you can find a HUD-certified housing counselor online or by calling 1-800-569-4287.

    Sources 6 · Request and review multiple Loan Estimates: 'For help reviewing your Loan Estimates, consider contacting a housing counselor'; 'You can find a HUD-certified housing counselor online or by calling 1-800-569-4287' · Checked October 17, 2026

12. The CFPB recommends comparing on each Loan Estimate the loan amount; the interest rate, keeping in mind that rates can change daily, so a difference between two lenders could reflect market changes if the Loan Estimates were issued on different days, and that for an adjustable-rate mortgage you should look at the worst case if rates rise; the monthly principal and interest; monthly mortgage insurance; the total monthly payment; the upfront loan costs in Section D, especially origination charges; lender credits in Section J; and the cash to close.

    Sources 7 · Compare and negotiate your loan offers (page last modified Dec. 12, 2024): 'Interest rates can change daily, so a difference in rate between two lenders could be because of market changes for Loan Estimates issued on different days'; 'look at the worst-case scenario if interest rates rise'; 'The monthly mortgage insurance payment (if any)'; 'The upfront loan costs (listed on page 2 in Section D, Total Loan Costs), especially the origination charges'; 'The lender credits (listed on page 2 under Section J, Total Closing Costs)' · Checked October 17, 2026

13. The CFPB recommends that, when comparing closing costs, you focus on the fees that vary by lender: total origination charges in Section A, the services in Section B and lender credits in Section J; and it warns that a Loan Estimate showing much lower taxes and insurance is not necessarily a better deal, because lenders do not control your taxes and insurance, so if these are not similar you should ask why: escrow amounts for property taxes and insurance (page 1), taxes and other government fees (Section E), prepaids (Section F) and initial escrow at closing (Section G).

    Sources 7 · Compare and negotiate your loan offers: 'focus on the fees that vary by lender'; 'the total origination charges in Section A, the services listed in Section B, and lender credits listed in Section J'; 'it doesn't mean that loan is a better deal'; 'Lenders don't control your taxes and insurance'; 'Escrow amounts for property taxes and insurance (page 1)'; 'Taxes and other government fees (page 2, Section E)'; 'Prepaids (page 2, Section F)'; 'Initial escrow at closing (page 2, Section G)' · Checked October 17, 2026

14. According to the CFPB, borrowers on average keep a mortgage about five years before moving or refinancing, so the total interest and fees over five years is a good way to compare; on the 'In 5 Years' line on page 3, the first number is the total you will pay over five years, including principal, and the second is the principal you will have paid off; subtracting the second from the first gives your five-year cost of borrowing; and for an adjustable-rate loan that figure assumes rates stay the same.

    Sources 7 · Compare and negotiate your loan offers, 'Calculate your five-year cost of borrowing': 'borrowers keep a mortgage for about five years before moving or refinancing'; 'The first number shows you the total dollar amount (including principal) you will pay over five years'; 'The second number shows you the amount of principal you will have paid off after five years'; 'Subtract the second number from the first number'; 'This is your five-year cost of borrowing'; 'the five-year cost assumes that interest rates stay the same' · Checked October 17, 2026

15. The CFPB says negotiating can save you money; your best bargaining chip is usually having Loan Estimates from other lenders in hand; if the lender you feel most comfortable with charges more, ask them to match what you found elsewhere; negotiating works best over a short timeframe after you have a signed purchase contract; and 'no closing cost' loans are not free, because they come with higher monthly payments.

    Sources 7 · Compare and negotiate your loan offers: 'Negotiating can save you money'; 'Your best bargaining chip is usually having Loan Estimates from other lenders in hand'; 'If the lender you feel most comfortable with is charging more, ask them to match what you find elsewhere'; 'Negotiating is best done over a short timeframe after you have a signed purchase contract'; 'the catch is the loan has higher monthly payments' · Checked October 17, 2026

16. According to the CFPB, if you do not express your intent to proceed with an offer within 10 business days from the day the lender sends you the Loan Estimate, the lender can close your application as incomplete; you are not committed to a lender until you sign the final closing documents, but switching lenders means starting over, which could delay or endanger your closing; application and appraisal fees are often charged when you express your intent to proceed and might or might not be refundable; and if you do not close before your rate lock expires, even because of the lender's processing time, you might have to pay to extend it.

    Sources 8 · Choose a loan offer (page last modified Dec. 12, 2024): 'within 10 business days from the day the lender sends you the Loan Estimate, the lender can close your application as incomplete'; 'You're not committed to a lender until you sign the final closing documents'; 'switching lenders means starting the loan process over again, which could delay or endanger your closing'; 'Application and appraisal fees are often charged when you express your intent to proceed'; 'might or might not be refundable'; 'you might have to pay a fee to extend your rate lock' · Checked October 17, 2026

17. Under Regulation Z, the Loan Estimate states 'Save this Loan Estimate to compare with your Closing Disclosure'; describes the loan product (adjustable rate, step rate or fixed rate) and the loan type (conventional, FHA, VA or other); and its 'Loan Terms' table shows the loan amount, interest rate and principal and interest payment, each with the question 'Can this amount increase after closing?', plus whether the loan has a prepayment penalty or balloon payment under 'Does the loan have these features?', a balloon payment being a payment more than twice a regular periodic payment.

    Sources 5 · 12 CFR §1026.37(a)(2) ('Save this Loan Estimate to compare with your Closing Disclosure'), (a)(10) ('A description of the loan product'; 'Adjustable rate. If the interest rate may increase after consummation'; 'Step rate. If the interest rate will change after consummation'; 'Fixed rate. If the loan product is not an Adjustable Rate or a Step Rate'), (a)(11) ('The type of loan'; 'Conventional. If the loan is not guaranteed or insured by a Federal or State government agency'; 'FHA. If the loan is insured by the Federal Housing Administration'; 'VA. If the loan is guaranteed by the U.S. Department of Veterans Affairs'; 'Other. For federally-insured or guaranteed loans other than'), (b)(6) ('Can this amount increase after closing?'), (b)(7) ('Does the loan have these features?') and (b)(5) ('means a payment that is more than two times a regular periodic payment') · Checked October 17, 2026

18. Under Regulation Z, the Loan Estimate states whether the interest rate is locked ('Rate Lock') and, if so, the date and time that period ends; and it states that the rate, points and lender credits may change unless the rate is locked, along with the date and time the estimated closing costs expire.

    Sources 5 · 12 CFR §1026.37(a)(13): 'is locked for a specific period of time'; 'the date and time (including the applicable time zone) when that period ends'; 'the interest rate, any points, and any lender credits may change unless the interest rate has been locked'; 'at which estimated closing costs expire' · Checked October 17, 2026

19. Under Regulation Z, the 'Projected Payments' table itemizes each periodic payment or range of payments, together with an estimate of taxes, insurance and assessments and the payments made from the escrow account; and the 'Costs at Closing' table shows closing costs, with loan costs, other costs and lender credits, and the cash to close.

    Sources 5 · 12 CFR §1026.37(c) ('an itemization of each separate periodic payment or range of payments, together with an estimate of taxes, insurance, and assessments and the payments to be made with escrow account funds') and (d)(1) ('Costs at closing table'; 'Lender Credits'; 'Cash to Close') · Checked October 17, 2026

20. Under Regulation Z, page 3 of the Loan Estimate shows the name and NMLS number of the lender, the broker (if any) and the loan officer; the 'Comparisons' table ('Use these measures to compare this loan with other loans') with 'In 5 Years' (what you will have paid in principal, interest, mortgage insurance and loan costs through the end of month 60, and the principal you will have paid off), the APR ('This is not your interest rate') and the TIP (total interest over the term as a percentage of the loan); and 'Other Considerations': that the lender will promptly give you a copy of any appraisal even if the loan does not close, whether a future buyer may assume the loan on its original terms, the late payment charge and how many days late triggers it, that you may not be able to refinance, and whether the lender intends to service the loan or transfer it to another servicer; and if there is a signature line, signing only confirms you received the form and does not commit you to the loan.

    Sources 5 · 12 CFR §1026.37(k)(1)–(2) ('Nationwide Mortgage Licensing System and Registry identification number'), (l)(1)–(3) ('Use these measures to compare this loan with other loans'; 'through the end of the 60th month after the due date of the first periodic payment'; 'This is not your interest rate'; 'The total amount of interest that you will pay over the loan term as a percentage of your loan amount'), (m)(1)–(6) ('The creditor will promptly provide the consumer a copy of any appraisal, even if the transaction is not consummated'; 'may be permitted to assume the remaining loan obligation on its original terms'; 'the number of days that a payment must be late to trigger the late payment fee'; 'You may not be able to refinance this loan'; 'whether the creditor intends to service the loan or transfer the loan to another servicer') and (n)(1) ('By signing, you are only confirming that you have received this form') · Checked October 17, 2026

21. On the CFPB's sample Loan Estimate, page 2 labels the blocks with letters: A. Origination Charges; B. Services You Cannot Shop For; C. Services You Can Shop For; D. Total Loan Costs (A + B + C); E. Taxes and Other Government Fees; F. Prepaids; G. Initial Escrow Payment at Closing; H. Other; I. Total Other Costs (E + F + G + H); and J. Total Closing Costs.

    Sources 9 · Sample Loan Estimate (adjustable-rate loan), page 2: 'A. Origination Charges'; 'B. Services You Cannot Shop For'; 'C. Services You Can Shop For'; 'D. TOTAL LOAN COSTS (A + B + C)'; 'E. Taxes and Other Government Fees'; 'F. Prepaids'; 'G. Initial Escrow Payment at Closing'; 'H. Other'; 'I. TOTAL OTHER COSTS (E + F + G + H)'; 'J. TOTAL CLOSING COSTS' · Checked October 17, 2026

22. According to the CFPB, if the right-hand column says 'YES' next to the rate, your interest rate is adjustable and can change after closing; and an adjustable-rate Loan Estimate carries additional information in the Projected Payments table on page 1 and in two additional tables at the bottom of page 2.

    Sources 10 · Loan Estimate Explainer (page last modified Oct. 29, 2025), 'Fixed and adjustable interest rates': 'If the right-hand column says'; 'your interest rate is adjustable and can change after closing'; 'additional information in the Projected Payments table on page 1 and in two additional tables at the bottom of page 2' · Checked October 17, 2026

23. The CFPB's Loan Estimate Explainer recommends asking the lender to fix any inaccurate contact information, because even minor misspellings can cause big problems later; checking that the loan amount plus your down payment equals the sale price; it calls a prepayment penalty and a balloon payment risky features; says origination charges may be more or less itemized depending on the lender and that the total is what matters; that lender credits may mean you are paying a higher rate in exchange, and that points are an upfront fee in exchange for a lower rate; that a similar loan may be available without points; that most loans do not allow assumptions; that if the loan officer you are working with is not listed on page 3, you should ask questions; and that you can look up the loan officer by name or NMLS ID number in the NMLS database.

    Sources 10 · Loan Estimate Explainer: 'Even minor misspellings can cause big problems later'; 'check to see that the loan amount plus your down payment equals the sale price of the home'; 'This feature is risky'; 'Depending on the lender, origination charges may be more or less itemized'; 'It's the total that matters'; 'You may be paying a higher interest rate in exchange for this rebate'; 'in exchange for a lower interest rate than you would have paid otherwise'; 'A similar loan may also be available without points'; 'Most loans do not allow assumptions'; 'If not, ask questions'; 'You can look up the loan officer by name or NMLS ID number in the NMLS database' · Checked October 17, 2026

24. According to the CFPB, the Total Interest Percentage (TIP) tells you how much interest you will pay over the life of the loan compared with the amount you borrowed; it is on page 3 of the Loan Estimate and page 5 of the Closing Disclosure; it is most useful for comparing Loan Estimates; the calculation assumes you make all payments as scheduled and keep the loan for the full term; for an adjustable-rate loan it uses current rates; it is usually much larger than the rate or the APR; and it does not include upfront fees other than prepaid interest, while the APR does include upfront fees.

    Sources 11 · What is the Total Interest Percentage (TIP) on a mortgage? (last reviewed Sep 11, 2024): 'on page 3 of your Loan Estimate or page 5 of your Closing Disclosure'; 'The TIP is most useful as a comparison point between different Loan Estimates'; 'The calculation assumes that you will make all your payments as scheduled'; 'you will keep the loan for the entire loan term'; 'the TIP is calculated using current interest rates'; 'The TIP will usually be much larger than either the interest rate or the APR'; 'The TIP does not include upfront fees, other than prepaid interest'; 'The APR, by contrast, includes upfront fees' · Checked October 17, 2026

25. According to the CFPB, the APR reflects the interest rate plus other charges: points, mortgage broker fees and other charges you pay to get the loan, which is why it is usually higher than your rate; on the Loan Estimate, the rate is on page 1 under 'Loan Terms' and the APR on page 3 under 'Comparisons'; for an adjustable-rate loan the APR does not reflect the maximum rate; take care when comparing the APR of a fixed-rate loan with that of an adjustable-rate loan; and do not look at the APR alone.

    Sources 12 · What is the difference between a mortgage interest rate and an APR? (last reviewed Aug 28, 2026): 'reflects the mortgage interest rate plus other charges'; 'The APR reflects the interest rate, any points, mortgage broker fees, and other charges that you pay to get the loan'; 'your APR is usually higher than your interest rate'; 'you can find the interest rate on page 1 under'; 'and the APR on page 3 under'; 'the APR does not reflect the maximum interest rate of the loan'; 'Be careful when comparing the APRs of fixed-rate loans with the APRs of adjustable-rate loans'; 'Don't look at the APR alone' · Checked October 17, 2026

26. According to the CFPB, with a rate lock your rate will not change between the offer and closing as long as you close within the time frame and nothing changes in your application; mortgage rates can change daily, sometimes hourly; rate locks are typically available for 30, 45 or 60 days, and sometimes longer; a lock may be expensive to extend and may lock you out of a lower rate if rates fall; some lenders lock the rate when issuing the Loan Estimate and some do not; and the Loan Estimate does not tell you how much it would cost to extend the lock.

    Sources 13 · What's a lock-in or a rate lock on a mortgage? (last reviewed May 2, 2023): 'as long as you close within the specified time frame and there are no changes to your application'; 'Mortgage interest rates can change daily, sometimes hourly'; 'Rate locks are typically available for 30, 45, or 60 days, and sometimes longer'; 'It may be expensive to extend if your transaction needs more time'; 'a rate lock may lock you out of a lower interest rate if rates fall'; 'Some lenders may lock your rate as part of issuing a Loan Estimate, but some may not'; 'it will not provide you with information about how much it would cost to extend the rate lock' · Checked October 17, 2026

27. According to the CFPB, it is illegal for lenders to deliberately underestimate the costs on your Loan Estimate; some closing costs can go up by any amount, some by up to 10 percent and some not at all; transfer taxes cannot go up and recording fees are in the up-to-10-percent group; if the provider is a lender affiliate, the cost cannot change at all; and with a 'change in circumstances', for example if the appraisal comes in higher or lower than expected, these rules do not apply; if costs rose more than allowed without a change in circumstances, you are entitled to a refund of the amount above the limit.

    Sources 14 · Can my final mortgage costs increase from what was on my Loan Estimate? (last reviewed Sep 11, 2024): 'It is illegal for lenders to deliberately underestimate the costs on your Loan Estimate'; 'Some closing costs the lender can increase by any amount, some the lender can increase by up to 10 percent, and some the lender can’t increase at all'; 'Transfer taxes'; 'Recording fees'; 'if the provider is an affiliate of the lender, the cost cannot change at all'; 'The appraisal on the home you want to buy came in higher or lower than expected'; 'These types of situations are called a “change in circumstances”'; 'you are entitled to a refund of the amount above the allowable limits' · Checked October 17, 2026

28. Under Regulation Z, the lender may use a revised estimate because of a changed circumstance, revisions you request, or changes in points or credits because the rate was not locked; when the rate is locked after the Loan Estimate, the lender must give you a revised Loan Estimate no later than three business days after the lock; and you must receive any revised Loan Estimate no later than four business days before consummation.

    Sources 4 · 12 CFR §1026.19(e)(3)(iv)(A)–(D) ('Changed circumstance affecting settlement charges'; 'Revisions requested by the consumer'; 'because the interest rate was not locked'; 'No later than three business days after the date the interest rate is locked') and (e)(4)(ii) ('The consumer must receive any revised version … not later than four business days prior to consummation') · Checked October 17, 2026

29. Under Regulation Z, the lender must make sure you receive the Closing Disclosure no later than three business days before consummation.

    Sources 4 · 12 CFR §1026.19(f)(1)(ii)(A): 'the creditor shall ensure that the consumer receives the disclosures … no later than three business days before consummation' · Checked October 17, 2026

30. The CFPB's 'Your home loan toolkit' recommends getting at least three offers in writing; it says total loan costs are in Section D; that you should concentrate on Sections A and B because you can shop for the Section C services no matter which lender you choose; that Section J shows lender credits; and that the third page lets you compare the APR and the TIP.

    Sources 15 · Your home loan toolkit (updated July 2026), section 1, p. 9: 'Get at least three offers'; 'Total Loan Costs are shown in Section D'; 'Concentrate on the costs in Sections A and B, because you can shop for the services in Section C, no matter what lender you choose'; 'Section J shows lender credits'; 'can use the third page of the Loan Estimates to compare the Annual Percentage Rate (APR)'; 'You can use APR and TIP to compare loan offers' · Checked October 17, 2026

31. According to the CFPB, points (discount points) lower your interest rate in exchange for paying more at closing, and one point equals one percent of the loan amount; they appear on page 2, Section A, of the Loan Estimate; lender credits lower your closing costs in exchange for a higher rate and appear on page 2, Section J; and when comparing offers, ask each lender for the same amount of points or credits.

    Sources 16 · How should I use lender credits and points (also called discount points)? (last reviewed Oct 19, 2023): 'Points lower your interest rate, in exchange for paying more at closing. Lender credits lower your closing costs up front, in exchange for a higher interest rate.'; 'One point equals one percent of the loan amount'; 'page 2, Section A'; 'page 2, Section J'; 'ask for the same amount of points or credits from each lender' · Checked October 17, 2026

32. HUD-approved housing counselors give independent advice on buying, renting, defaults and credit, often at little or no cost.

    Sources 17 · Find a Housing Counselor: 'Housing counselors throughout the country can provide advice on buying a home, renting, defaults, forbearances, foreclosures, and credit issues'; 'they can offer independent advice, often at little or no cost to you' · Checked October 17, 2026