MORTGAGE ANSWERS
How to Compare a Loan Estimate
Compare the whole mortgage rather than one rate or payment.
What to know.
Review loan amount, rate, monthly principal and interest, mortgage insurance, estimated escrow, closing costs and cash to close. Some costs can change. Ask which figures are assumptions and whether discount points or lender credits are involved.
Talk through your own numbers.
Send John the questions the estimates raise; compare the same loan type and timing.
TALK THROUGH YOUR SCENARIO
Start with a conversation.
Tell John what you want to accomplish. He’ll help you sort through the options and next steps.