Lender Quote Comparison Checklist
Comparing mortgage quotes is easier when you're looking at the same things side by side. Print this out and fill it in as you talk to lenders.
Finav is building an app that helps you organize and compare quotes automatically. This checklist is a good starting point until then.
FINAVfinav.app/tools/lender-quote-comparison
Lender Quote Comparison
Side-by-Side Comparison
| Lender 1 | Lender 2 | Lender 3 | |
|---|---|---|---|
| Lender name | |||
| Date of quote | |||
| Loan typee.g., 30-yr fixed, 15-yr fixed, ARM | |||
| Interest rate | |||
| APRIncludes fees, so it's often higher than the rate | |||
| Points/creditsHow many points, and what do they cost? | |||
| Lock period30 days? 45? 60? | |||
| Origination fee | |||
| Appraisal fee | |||
| Title/escrow fees | |||
| Total estimated closing costsFrom the Loan Estimate, page 2 | |||
| Monthly P&I paymentPrincipal and interest only, before taxes/insurance | |||
| Monthly total (PITI)Including taxes, insurance, PMI if applicable |
Your Rate-Ready File
Have these ready before you call. It speeds things up and means fewer last-minute scrambles.
Updated pay stubs (most recent 30 days)
W-2s or tax returns (most recent 2 years)
Bank statements (most recent 2-3 months)
A clear explanation for any credit quirks (late payments, collections, gaps)
Your target purchase price or refinance amount
Your preferred loan type and term
Tips for Comparing
Request Loan Estimates from at least two lenders for the same scenario: same loan type, term, points, and lock period. Otherwise you're comparing different things.
Ask for quotes on the same day. Rates change daily, so quotes from different days aren't a fair comparison.
Look at APR, not just the interest rate. APR folds in fees and gives you a more honest number.
Ask what happens if your rate lock expires. Some lenders charge to extend, some don't.
Locking a rate is partly a numbers decision and partly a sleep decision. If watching rates daily makes you less functional, that matters.
My Notes
Learn More
This checklist is from FINAV (finav.app). We're building an app that helps you compare lender quotes automatically. Join the waitlist at finav.app.
What if the comparison happened automatically?
Finav is building a tool that organizes your lender quotes and shows you the real differences, so you can focus on the decision instead of the spreadsheet.
Join the Waitlist