A practical next step · Free borrowing tools
Read a mortgage Loan Estimate
A plain-language map of the three-page form, with questions to take back to your loan officer.
Page 1: terms and monthly costs
Check the loan amount, term and product against what you requested. Separate principal and interest from the estimated total payment. Review whether the rate or payment may change, whether there is a balloon payment or prepayment penalty, and the estimated cash to close.
Page 2: the closing-cost breakdown
Compare origination charges and required services. Distinguish services you can shop for from those selected by the lender. Review prepaids, escrow deposits and credits separately; they do not all represent the same kind of lender charge.
Page 3: comparisons and questions
Review the comparison figures, disclosed APR and other terms. Ask why an item differs from an earlier discussion. Use comparable Loan Estimates rather than assuming a lower tax or insurance estimate is a lender saving.
An annotated official sample
Open the CFPB’s interactive Loan Estimate below to see highlighted fields on an actual sample form. This page is a companion reading map, not an official form or a substitute for your lender’s disclosure.