THE FIELD GUIDE · MORTGAGE PLANNING
Compare the loan, not just the rate
Turn two Loan Estimates into a useful side-by-side decision.
Use matching assumptions
Compare offers for the same loan amount, product, term and rate-lock period. A 15-year fixed loan and a 30-year fixed loan solve different cash-flow problems. Record whether each estimate is locked and when it expires.
Separate points from other costs
Discount points are an upfront charge associated with the interest rate. Enter points as a percentage of the loan amount and other lender costs as dollars. Third-party and government charges deserve their own review; the tool does not compute a regulatory APR.
Find the simple break-even
Divide the extra upfront cost of the lower-payment option by its monthly principal-and-interest savings. This is a simple cash-flow comparison. It excludes time value, tax treatment, refinancing, sale costs and differences in the remaining balance.
Read the full Loan Estimate
Review origination charges, lender credits, prepayment penalties, balloon payments, cash to close and the comparisons section. Verify every figure with the lender before acting.
This guide is educational. Confirm the figures and conditions for your actual loan.
Official consumer or market guidance ↗