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Loan Estimate decoder
Your lender’s three-page Loan Estimate, line by line in plain English: what each fee is, what’s unusual, what can still change before closing, and what to ask.
Your file stays on your device. The PDF is read by your own browser. Nothing is uploaded, saved, or sent to us or anyone else, and closing this tab erases it.
No PDF, or it’s a scan?
What we read
Check these against your form and fix anything that’s off. The report updates as you type.
What a Loan Estimate is
Within three business days of your mortgage application, every lender must give you a Loan Estimate: a standard three-page form (the CFPB’s H-24) with the same sections in the same places. That standardization is what lets this tool read it, and what lets you compare offers. Page 1 sets out the loan terms and payments, page 2 the closing costs in sections A to J, and page 3 the APR and other comparisons.
How we decide what to flag
- Prepayment penalties and balloon payments, which the CFPB calls risky.
- Points and lender credits, which trade upfront cost against your interest rate.
- Origination charges above 1% of the loan. This is our threshold for “worth a second look”, not a legal limit. The CFPB’s advice is to compare Section A across lenders.
- Services you can shop for, where choosing your own provider may save money.
- What can change before closing, using the CFPB’s tolerance rules: some fees can’t go up at all, some only 10% in total, and some by any amount.
The tool explains and flags; it doesn’t judge whether a loan is right for you. PreferredProperties.com is an independent media site, not a lender, broker, or adviser. Sources: CFPB Loan Estimate explainer · CFPB: can my final costs increase? · CFPB: compare and negotiate loan offers · 12 CFR 1026.37 (Loan Estimate rule).