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Loan Estimate Comparison Worksheet
Lenders compete for your VA loan: but only if you make them. Every lender must give you a standardized Loan Estimate on the same form, which makes apples-to-apples comparison possible. Put two or three side by side here, focus on the total loan costs and cash to close (not just the rate), and bring the winner back to the others.
Companion to the VA Loan Guide: read it →
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Compare your Loan Estimates
Enter the numbers straight off each lender's official Loan Estimate. Same loan amount and same lock period for all three, or the comparison is meaningless.
| Line item | Option A | Option B | Option C |
|---|---|---|---|
| Lender name | |||
| RATE & COST | |||
| Interest rate | |||
| APR | |||
| Points / credits (page 2, A) | |||
| Total loan costs (D) | |||
| Lender credits (J) | |||
| Estimated cash to close | |||
| Monthly principal & interest | |||
| VA funding fee (and is it financed?) | |||
| THE 5-YEAR VIEW (page 3) | |||
| In 5 years, total you'll have paid | |||
| In 5 years, principal paid off | |||
| Break-even on points (if any) | |||
| TERMS | |||
| Loan term (years) | |||
| Fixed or adjustable | |||
| Prepayment penalty? (Y/N) | |||
| Rate-lock period & expiration | |||
Compare the right line. The interest rate alone can hide fees. The Total Loan Costs box (page 2, D) and the APR capture what you're really paying. A slightly higher rate with much lower fees can win: especially if you won't keep the loan long enough to recoup points.
Use the official explainer. The CFPB has a free interactive guide to every box on the Loan Estimate at consumerfinance.gov/owning-a-home/loan-estimate. If a lender's form looks different from the standard, that's a flag.
Before you choose: checklist
Check each box once you have confirmed it. Empty boxes are your to-do list.
- I got a Loan Estimate (not just a 'quote') from at least 3 lenders.
- All three are for the same loan amount, type, and lock period.
- I compared Total Loan Costs and APR, not just the rate.
- I checked the VA funding fee: and whether I'm exempt (service-connected disability).
- If I already paid a funding fee and later got a disability rating, I asked about a refund.
- I confirmed the 1% origination cap (lender can't also charge separate processing/underwriting/etc.).
- I know whether points are included and calculated the break-even.
- For a purchase: I'm getting a home inspection (separate from the VA appraisal).
- For an IRRRL: the seasoning rule is met (6 consecutive payments AND 210 days from first payment).
- No lender pressured me to skip shopping or sign 'today only.'
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For information purposes only. This worksheet is a free educational tool, provided "as is," to help you organize and compare offers: it is not financial, tax, legal, or insurance advice, not a quote or appraisal, and not a guarantee of savings, rates, or eligibility. Terms, prices, and rules change and vary; verify everything with the provider, official sources, and a licensed professional before acting. StandWatch is not a lender, broker, or the VA, and does not originate loans or set rates. Nothing you enter here is transmitted to StandWatch.
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