Give each lender the same starting point.
The CFPB recommends requesting multiple Loan Estimates for the same kind of loan. Provide consistent property, loan amount and down-payment details. Ask for offers close together in time, then record whether the rate is locked and when the lock expires.
- Match loan amount, term, fixed or adjustable structure, and loan program.
- Ask each lender to use the same property-tax and insurance information.
- Record estimate date, lock status, expiration and any extension charges.
Follow the three-page comparison.
Page 1 shows the loan terms and projected payments. Page 2 itemizes costs and estimated cash to close. Page 3 includes comparison figures. When one offer has lower estimated taxes or insurance, ask why: the lender does not control those costs.
- Compare principal and interest separately from the full monthly payment.
- Review Section A origination charges, Section B services and Section J credits.
- Compare five-year interest and fees by subtracting principal paid from the first “In 5 years” figure.
Ask what you are trading for the rate.
Discount points generally exchange an upfront payment for a lower rate. Rate-related lender credits generally work in reverse. A promotional credit may have a different basis, so have the lender identify what it is and show an alternative offer without it.
- Request the point cost in dollars, not just as a percentage.
- Ask for a comparable no-discount-point option where available.
- Consider how long you expect to keep the loan, without assuming refinancing will be available.
Put the builder’s conditions beside the credit.
A builder incentive may require a particular lender, home or closing date. Compare that package with an outside lender after accounting for any incentive you would lose. With a temporary buydown, request the payment schedule and evaluate the payment after the temporary support ends.
- Get eligibility, expiration and eligible uses of the credit in writing.
- Ask whether price, upgrades or other concessions change with lender choice.
- Request the note rate and every payment stage of a temporary buydown.
Make the lender answer the differences.
Keep a short list of mismatched terms and unexplained charges. Send each lender the questions relevant to its offer. If you want a revised offer, request a revised Loan Estimate; a verbal promise does not update the numbers on your form.
- Ask a preferred lender whether it can improve a specific competing term.
- Confirm any switch can meet the purchase contract’s closing timeline.
- Retain both the prior and revised versions so changes remain visible.
Review your documents in Settle.
Finn can explain supplied offers and calculate supported fixed-rate principal-and-interest scenarios. It does not calculate APR, temporary buydown schedules or a complete cash-to-close figure, approve financing, or verify live rates. Confirm the final comparison with the lenders.
- Complete competing Loan Estimates
- Written builder incentive and lender conditions
- Rate-lock terms and any buydown agreement
- Property-tax, insurance and HOA estimates
Compare these Loan Estimates and the builder incentive terms. Separate upfront costs, monthly payments and conditions. Flag mismatched inputs and missing information before calculating anything, and cite the source of each material number.Get started
Sources checked September 6, 2026. Your contract, location and circumstances determine what applies. Builder examples are illustrations, not terms of your purchase. About these guides