Arizona buyer question
What's on a Loan Estimate, and how do I compare two of them?
Every lender has to use the same three-page form, which makes offers easy to line up once you know where to look. Here's a page-by-page guide using Consumer Financial Protection Bureau resources.
Two ways to start
- Search homes by payment
Create your free account to see all homes for sale that fit the monthly payment you're comfortable with, each with its actual property taxes, HOA dues, estimated homeowners insurance, and mortgage insurance when it applies, plus its own estimated closing costs and APR disclosure.
Opens a third-party home search site. Payments shown there are estimates to help you search, not a loan offer or rate quote. Your actual payment depends on price, down payment, credit, taxes, insurance, HOA, and loan program.
- Get pre-qualified (Apply now) (opens in a new tab)
Get pre-qualified with Pam Messina at Rebel Rate Mortgage. Once you're pre-qualified, Pam can update the maximum monthly payment and total funds to close in your home search, so the homes you see match what you qualify for. If you'd like, she can also give you a free, no-obligation introduction to a real estate professional so you can start touring homes.
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Applications are handled by Pam Messina, NMLS #245626, Rebel Rate Mortgage, Inc. (NMLS #2571369).
The short answer
Quick answer: A Loan Estimate is the three-page form a lender must give you within three business days of your mortgage application. To compare two, check that both are for the same loan amount and type, then line up the loan terms, projected payments, origination charges, total closing costs and cash to close.
Source: Consumer Financial Protection Bureau, What is a Loan Estimate? (last reviewed Aug 09, 2024) and Loan Estimate Explainer. Last updated .
What is a Loan Estimate?
It's a standard three-page form you get after you apply for a mortgage. The lender has to deliver it, or put it in the mail, no later than the third business day after receiving your application (12 CFR §1026.19(e)(1)(iii)). All lenders use the same form, which is the point: you can set two of them side by side. A Loan Estimate isn't an approval or a denial. It shows the terms the lender expects to offer if you move forward (CFPB).
What does a lender need before sending one?
The CFPB says a lender needs six pieces of information, including the property address and an estimated value of the property. You don't need a signed purchase contract to apply and get a Loan Estimate. Federal rules also limit fees before you have one: until you receive the Loan Estimate and say you want to go ahead, a lender can charge only a reasonable fee for pulling your credit report (12 CFR §1026.19(e)(2)).
If a lender hands you a written estimate before the official form, the rules require it to say at the top: "Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan."
What's on each page?
| Where | What it shows | What to compare |
|---|---|---|
| Page 1, top | Loan amount, loan term, purpose, product and loan type, and whether the rate is locked | Same loan amount and loan type on both, or the comparison is off |
| Page 1, Loan Terms | Whether the payment can go up after closing, and features like a prepayment penalty or balloon payment | Any "YES" answers, and why |
| Page 1, Projected Payments | Principal and interest, mortgage insurance, and estimated escrow for taxes and insurance, adding up to an estimated total monthly payment | Whether the total fits your monthly budget |
| Page 2, Section A | Origination charges: the lender's own fees | The total, not each line, since lenders itemize differently |
| Page 2, Sections B and C | Services you can't shop for, and services you can shop for | Section B totals; shop for Section C providers |
| Page 2, Calculating Cash to Close | What you need to bring to closing | Whether you have the cash, and where it comes from |
| Page 3, Comparisons | Standard cost measures: total costs in the first five years, the APR disclosure, and the Total Interest Percentage | Compare Loan Estimates for the same kind of loan |
Based on the CFPB's Loan Estimate Explainer and 12 CFR §1026.37, retrieved October 6, 2026. See the CFPB's interactive sample form for exact locations.
How do I compare two Loan Estimates?
Match the loan
Same loan amount, same loan type, and the same home price and down payment. If the loan amount plus your down payment doesn't equal the price, ask why (CFPB).
Compare the lender's own fees
Look at the total in Section A, origination charges. The CFPB says comparing Loan Estimates from other lenders is how to tell whether an offer is competitive, and since lenders itemize differently, it's the total that matters.
Compare the required third-party services
Section B lists third-party services the lender requires that you can't shop for. On an FHA, VA, or USDA loan, the upfront mortgage insurance premium or funding fee appears here too, and it's usually set by the government program, not the lender (CFPB).
Check the monthly picture
Compare the estimated total monthly payment on page 1, including mortgage insurance and escrow. Check whether any taxes or insurance aren't escrowed, since you'd pay those yourself.
Check the rate lock
Page 1 shows whether the rate is locked and until when. Some lenders lock as part of issuing the Loan Estimate and some don't, so an unlocked estimate can change (CFPB).
Create your free account to see all homes for sale that fit the monthly payment you're comfortable with, each with its actual property taxes, HOA dues, estimated homeowners insurance, and mortgage insurance when it applies, plus its own estimated closing costs and APR disclosure.
Opens a third-party home search site. Payments shown there are estimates to help you search, not a loan offer or rate quote. Your actual payment depends on price, down payment, credit, taxes, insurance, HOA, and loan program.
Which costs can change before closing?
Under Regulation Z's good-faith rules, the lender's own charges generally can't go up from what the Loan Estimate shows. Third-party services you were allowed to shop for, picked from the lender's list, can rise only within a limit counted across all of them together. Some items, like prepaid interest, homeowners insurance premiums, escrow deposits, and property taxes, can change, as long as the original estimate was made in good faith. A lender can issue a revised estimate in certain situations, such as when your application changes (12 CFR §1026.19(e)(3)).
At least three business days before closing, you'll get a five-page Closing Disclosure with the final figures. Use that window to compare it with your Loan Estimate and ask questions (CFPB).
What does an Arizona buyer add to the comparison?
- Property taxes. Check the Loan Estimate's tax figure against the home's actual tax bill. Arizona taxes depend on the home's limited property value and its tax area, and some homes carry an added special district tax line. See how Arizona property taxes are calculated.
- HOA dues. Page 1's Estimated Taxes, Insurance & Assessments box can list HOA dues, usually as not escrowed, so you'd pay them directly. Arizona law requires the HOA to give a buyer a disclosure that includes current assessments after a sale is pending (A.R.S. §33-1806).
- Homeowners insurance. You choose the insurance company, and the premium is set by the insurer, not the lender (CFPB).
- Closing timeline. See how long closing takes in Arizona and what earnest money is.
Can I see estimated costs before I apply?
Yes, for shopping purposes. A free account in the home search shows each home's estimated payment, closing cost estimate, and APR disclosure, built from that home's own taxes, HOA dues, and insurance. Those are estimates to compare homes, not a Loan Estimate. Only a lender's Loan Estimate, after you apply, shows the terms for a specific loan.
More: how much money to have saved · mortgage insurance and when it goes away · looking at houses before pre-approval · what you need to buy
General information, not legal advice or a loan offer. The CFPB's sample forms and Regulation Z are the official references.
What clients say about Rebel Rate Mortgage
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Ready to see what fits your monthly budget?
Search Arizona homes with each home's property taxes, HOA dues, and insurance built into the estimated payment. We never sell your information or pass it to other lenders or marketers. Only Rebel Rate Mortgage, Inc. contacts you.
Create your free account to see all homes for sale that fit the monthly payment you're comfortable with, each with its actual property taxes, HOA dues, estimated homeowners insurance, and mortgage insurance when it applies, plus its own estimated closing costs and APR disclosure.
Opens a third-party home search site. Payments shown there are estimates to help you search, not a loan offer or rate quote. Your actual payment depends on price, down payment, credit, taxes, insurance, HOA, and loan program.
Prefer to talk it through? Pam Messina, NMLS #245626
Call office 602-740-9664Call Pam 602-460-4879Text PamEmail Pam
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Sources
- Consumer Financial Protection Bureau, What is a Loan Estimate? (last reviewed Aug 09, 2024; retrieved October 6, 2026)
- Consumer Financial Protection Bureau, Loan Estimate Explainer (retrieved October 6, 2026)
- Consumer Financial Protection Bureau, Can I get a Loan Estimate without a signed purchase contract? (page titled "My loan officer says that I can't apply for a mortgage loan and receive a Loan Estimate until I can provide a copy of a signed purchase contract, is that correct?"; last reviewed April 3, 2024; retrieved October 6, 2026)
- Consumer Financial Protection Bureau, What's a lock-in or a rate lock on a mortgage? (last reviewed May 02, 2023; retrieved October 6, 2026)
- Consumer Financial Protection Bureau, What is a Closing Disclosure? (last reviewed May 02, 2023; retrieved October 6, 2026)
- 12 CFR §1026.19(e) (Regulation Z), Loan Estimate timing, fees before the Loan Estimate, and good-faith limits on closing cost changes (eCFR; retrieved October 6, 2026)
- 12 CFR §1026.37 (Regulation Z), content of the Loan Estimate (eCFR; retrieved October 6, 2026)
- Arizona Revised Statutes §33-1806, planned community resale disclosures
Frequently asked questions
What is a Loan Estimate?
A standard three-page form a lender must give you within three business days after you apply for a mortgage. It shows the estimated loan terms, monthly payment, and closing costs the lender expects to offer. It isn't an approval or a denial.
How do I compare two Loan Estimates?
Make sure both are for the same loan amount and loan type, then compare the total origination charges (Section A), the services you can't shop for (Section B), the estimated total monthly payment, the cash to close, and whether the rate is locked.
Do I need a signed purchase contract to get a Loan Estimate?
No. The CFPB says a lender needs six pieces of information, including the property address and an estimated property value, but not a signed purchase contract.
Can a lender charge me before I get a Loan Estimate?
Only a reasonable fee for your credit report. Other fees have to wait until you've received the Loan Estimate and told the lender you want to proceed (12 CFR §1026.19(e)(2)).
Can the costs on my Loan Estimate change?
Some can. The lender's own charges generally can't increase, some third-party charges can rise only within a set limit, and items like insurance premiums, escrow deposits, and property taxes can change. Your Closing Disclosure shows the final figures.
What's the difference between a Loan Estimate and a Closing Disclosure?
The Loan Estimate comes within three business days of applying. The five-page Closing Disclosure comes at least three business days before closing, with the final terms and costs to compare against it.