Loan Estimate Comparison Tool: Compare Mortgage Offers

What This Calculator Does

The comparison tool mirrors the major categories consumers review on the standardized Loan Estimate. Version one uses manual entry so no mortgage document, borrower name, address, account number, or application identifier is uploaded or stored.

Results identify lower entered amounts and structural differences. They do not determine which lender, loan, or combination of rate and fees is best for every borrower.

Worked example

One estimate may show a lower rate and payment but require more origination charges or discount points. Another may use lender credits to reduce cash due while carrying a higher rate. Comparing the same loan type and amount over the period you expect to keep the loan helps expose that tradeoff.

Formula and Methodology

The calculator displays entered monthly payments, loan costs, cash to close, APR, and five-year figures side by side. Its lender-comparison cost subtracts lender credits from the entered origination charges and services the borrower cannot shop for.

The five-year interest-and-fee figure is calculated by subtracting the principal paid figure from the total paid figure shown in the In 5 Years row on page 3. This follows the comparison method described by the Consumer Financial Protection Bureau.

Warnings appear when loan amounts, terms, products, rate-lock status, or estimate dates differ, because those differences can make a simple comparison misleading.

Assumptions and Limitations

Assumptions

Values are copied accurately from current official Loan Estimates.
Offers being compared are for the same property, loan purpose, and general time period whenever possible.
A zero may represent either a true zero or a missing entry; the calculator flags important blank or zero fields for review.
No entered information is intentionally retained after the browser session.

What It Cannot Determine

It cannot verify the accuracy, completeness, or current validity of a Loan Estimate.
It cannot evaluate lender responsiveness, closing reliability, servicing, or every contract term.
Taxes, insurance, escrow, prepaids, and other costs outside a lender’s control may differ without making one loan a better deal.
An adjustable-rate loan requires additional review of future adjustments and worst-case payment scenarios.

Frequently Asked Questions

Is a Loan Estimate the same as the old Good Faith Estimate?

For most closed-end consumer mortgages, the Loan Estimate replaced the Good Faith Estimate and early Truth-in-Lending disclosure. Certain transaction types use different disclosures.

Should I choose the offer with the lowest interest rate?

Not automatically. A lower rate may involve points or higher upfront costs. Compare the payment, cash to close, lender-controlled costs, credits, APR, and expected time before selling or refinancing.

Why should the Loan Estimates be issued around the same time?

Mortgage rates and pricing can change with market conditions. Estimates issued on different days or with different lock status may not reflect comparable pricing.

Does this calculator recommend a lender?

No. It organizes user-entered information and highlights questions. It does not rank lenders, verify terms, predict approval, or recommend a loan.

Official Sources

The methodology and terminology were checked against the following primary government resources. Loan Under Review is not affiliated with or endorsed by these agencies.

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Educational disclaimer

This calculator provides an educational estimate based on the information and assumptions entered. It is not a loan estimate, rate quote, appraisal, preapproval, approval decision, financial recommendation, or commitment to lend. Actual program requirements, qualifying calculations, rates, fees, insurance costs, taxes, and lender practices may differ.

Last reviewed: July 24, 2026 by the Loan Under Review Editorial Team.