How do I compare loan offers from different lenders?

NationwideReviewed October 2026

Get written Loan Estimates from several lenders and compare them line by line. The CFPB says having multiple estimates helps you negotiate, since lenders often match competing offers. Compare the parts lenders control: the interest rate, loan amount, monthly principal and interest, mortgage insurance, origination charges, lender credits, and cash needed at closing. The CFPB also suggests adding up interest and fees over five years. Don't judge offers by differences in estimated taxes and homeowners insurance, which lenders do not control. Be wary of no-closing-cost offers that make up the cost through a higher rate. For loans without a Loan Estimate, such as chattel or personal loans, compare the APR and total cost on the required disclosures.

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General information, written in our own words from the sources listed with each answer. It is not legal, engineering, tax or financial advice. Rules change and differ by state, county and city, so confirm with the office that issues your permit before you build. Last reviewed October 2026.