How to compare home loan offers

To compare home loan offers, use the same assumptions for each quote: same loan amount, term (e.g. 30 years), and loan type (e.g. Conventional fixed). Then line up the interest rate, APR, monthly payment, closing costs, and cash to close.

Small differences in rate or fees can add up over the life of the loan. A comparison tool lets you enter each lender’s numbers and view them in columns so you can see the differences at a glance.

Consider both upfront cost (closing costs, cash to close) and long-term cost (rate, APR, monthly payment). Your choice may depend on how long you plan to keep the loan and how much you want to pay at closing.

Organizing and comparing your quotes in one place puts you in a position to decide. There’s no single “best” offer—only what fits your situation.