Print this page or keep it open while you talk with at least two lenders about mortgage rates. It goes with the 5 guides on Refinance Costs Explained. Sections are ordered by how often those guides discuss each topic, and each one quotes what the guides say about it. Write each lender's answer in its column, then compare. Nothing here is collected or sent; the boxes are for pen and paper.
Read before you call
One point from each guide on this site, so you can follow what each lender tells you.
- “Origination or underwriting fees and any discount points, shown in Section A of the Loan Estimate.” From Refinance Closing Costs, Line by Line
- “Each new loan needs a new lender’s title policy protecting the lender against title defects.” From Title Insurance and Escrow in a Refinance
- “An owner's title policy protects you and is usually bought once, when you purchase.” From Title Insurance on a Refinance: Why You Pay Again
- “Most refinances use a full appraisal by a licensed or certified appraiser who inspects the property and compares recent sales.” From Appraisal, Waiver or Inspection: How Your Home's Value Is Set in a Refinance
- “The Loan Estimate separates services you cannot shop for (Section B) from those you can (Section C).” From Negotiating Refinance Closing Costs: What You Can Shop For
Questions from this site's guides
| Question | Lender 1 | Lender 2 |
|---|---|---|
| Is a reissue rate available for title insurance? | Lender 1 answer | Lender 2 answer |
| Can I shop title and settlement services? | Lender 1 answer | Lender 2 answer |
| How large is the new escrow deposit? | Lender 1 answer | Lender 2 answer |
| When will my old escrow refund arrive? | Lender 1 answer | Lender 2 answer |
| Who is the closing agent? | Lender 1 answer | Lender 2 answer |
From the checklist on this site.
Pricing questions
What the guides on this site say:
- “Ask about a reissue rate if your current policy is recent.” From Refinance Closing Costs, Line by Line
- “Costs are either rolled into the loan balance or covered by lender credits in exchange for a higher interest rate.” From Refinance Closing Costs, Line by Line
- “Ask the title company about a reissue or refinance rate.” From Title Insurance and Escrow in a Refinance
| Question | Lender 1 | Lender 2 |
|---|---|---|
| Which details of my file is this quote based on: credit, loan-to-value, loan amount, property type and occupancy? | Lender 1 answer | Lender 2 answer |
| Can you issue the Loan Estimate on the same day as the other lenders I am comparing? | Lender 1 answer | Lender 2 answer |
| Which items on this quote could still change before closing? | Lender 1 answer | Lender 2 answer |
Questions based on CFPB: Loan Estimate explainer.
Your Loan Estimate
What the guides on this site say:
- “Recording fees, any mortgage or transfer taxes your state charges, prepaid interest and possibly a new escrow deposit for taxes and insurance. “No-closing-cost” refinances.” From Refinance Closing Costs, Line by Line
- “Title and settlement are often in Section C of the Loan Estimate, meaning you can shop for them.” From Title Insurance and Escrow in a Refinance
- “On the Loan Estimate, services you can shop for are listed separately from those you cannot.” From Title Insurance and Escrow in a Refinance
| Question | Lender 1 | Lender 2 |
|---|---|---|
| Can you send me an official Loan Estimate for this exact scenario? | Lender 1 answer | Lender 2 answer |
| Which fees in the Loan Costs section are your own charges, and which are third-party charges? | Lender 1 answer | Lender 2 answer |
| Which services on the Loan Estimate can I shop for myself? | Lender 1 answer | Lender 2 answer |
Questions based on CFPB: Loan Estimate explainer.
Points and lender credits
What the guides on this site say:
- “Section A lists what the lender charges to make the loan, including points.” From Negotiating Refinance Closing Costs: What You Can Shop For
- “Ask whether any fee can be reduced or waived, or whether a lender credit can offset costs in exchange for a slightly higher rate.” From Negotiating Refinance Closing Costs: What You Can Shop For
| Question | Lender 1 | Lender 2 |
|---|---|---|
| Does this quote include discount points or lender credits? | Lender 1 answer | Lender 2 answer |
| What would the same quote look like with no points and no credits? | Lender 1 answer | Lender 2 answer |
Questions based on CFPB: Discount points and lender credits.
Loan features
What the guides on this site say:
- “Your old servicer refunds the old escrow balance after payoff, typically within weeks.” From Title Insurance and Escrow in a Refinance
- “Prepaid interest, insurance premiums and the initial escrow deposit appear in Sections F and G.” From Negotiating Refinance Closing Costs: What You Can Shop For
- “When you refinance, your old escrow balance is usually refunded by the previous servicer after payoff, so plan for the timing gap.” From Negotiating Refinance Closing Costs: What You Can Shop For
| Question | Lender 1 | Lender 2 |
|---|---|---|
| Does this loan have a prepayment penalty? | Lender 1 answer | Lender 2 answer |
| Can the interest rate or monthly payment change after closing? If so, when and how? | Lender 1 answer | Lender 2 answer |
| Will I have an escrow account for property taxes and insurance? | Lender 1 answer | Lender 2 answer |
Questions based on CFPB: What is a prepayment penalty?.
Rate lock
| Question | Lender 1 | Lender 2 |
|---|---|---|
| Is my interest rate locked yet? If so, on what date does the lock expire? | Lender 1 answer | Lender 2 answer |
| What happens if closing is delayed past the lock date, and is there a cost to extend it? | Lender 1 answer | Lender 2 answer |
Questions based on CFPB: What's a rate lock?.
Before you choose
What the guides on this site say:
- “Title services and lender’s title insurance: you can often shop these.” From Refinance Closing Costs, Line by Line
- “Title charges appear in Section B or C of the Loan Estimate, depending on whether you can shop for the provider.” From Title Insurance on a Refinance: Why You Pay Again
- “If you can shop, compare quotes from more than one title company.” From Title Insurance on a Refinance: Why You Pay Again
| Question | Lender 1 | Lender 2 |
|---|---|---|
| What are your individual and company NMLS IDs, so I can look them up? | Lender 1 answer | Lender 2 answer |
| Who will service the loan after closing? | Lender 1 answer | Lender 2 answer |
Questions based on NMLS Consumer Access.
This worksheet is general education. It does not ask for or store any personal information, and it is not an offer or a pre-approval. Compare written Loan Estimates, and verify every lender on NMLS Consumer Access.
Sources
- CFPB: Loan Estimate explainer
- CFPB: Discount points and lender credits
- CFPB: What is a prepayment penalty?
- CFPB: What's a rate lock?
- NMLS Consumer Access