How much is this mortgage going to cost me? How much would the
closing costs be for this mortgage? And how do the closing costs
compare with other loan offers?

You’ll find the answers to those and other questions by reading
and comparing the Loan Estimate, a 3-page document that summarizes
the details of a loan offer, including:

- Loan amount, interest rate and estimated monthly payments.
- Itemized closing costs and how much cash you’ll need at
closing.
- Your total costs in the first 5 years of the loan.
- The annual percentage rate (APR) and total interest
percentage (TIP).
- How much late payments will cost.
- How often the payments can change, and by how much (if it’s an
adjustable-rate mortgage).
- Whether the loan is assumable, and other important
elements.

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## Guide to the Loan Estimate

Each of the following questions will take you to a brief
description of where to look on the Loan Estimate to get an
answer.

Here’s where can you find the estimated monthly mortgage
payments on the Loan Estimate.

See how the interest rate calculation is presented in the new
Loan Estimate.

Mortgage closing costs appear twice in the Loan Estimate. Here’s
where.

How much cash will you need at closing? See how to find out on
the Loan Estimate.

The Loan Estimate helps borrowers compare loan offers. See how
to do it.

See where the mortgage Loan Estimate has to be exact and where
it has wiggle room.

The Loan Estimate will show you if there are any risky features
in this mortgage.

Can the interest rate change? The Loan Estimate shows you if it
can and when.

The Loan Estimate shows you if you’ve locked your interest rate
and how long it will remain at that rate.

## More on the Loan Estimate and Closing Disclosure

This step-by-step guide to the 3-page Loan Estimate shows you
where to find crucial information for your home loan.

Questions about a mortgage offer? Here’s where to find answers
on the Loan Estimate.

Here’s how to use the Closing Disclosure to get the mortgage
that you were promised.