# Read a Loan Estimate in a useful order

Read a Loan Estimate by first confirming what loan it describes, then examining the payment and upfront figures. Keep your questions beside the relevant sections. The goal is to understand the document’s basis before deciding whether two offers are comparable.

## Begin with identity and terms
Confirm the names, property, loan amount, term, product, and document date. Record the rate-lock information rather than assuming a displayed rate is locked. A typo or mismatched loan amount can affect every later comparison.

## Follow the figures through the document
| Pass | What to record | Why it matters |
| --- | --- | --- |
| Terms | Loan amount, term, product, rate | Establishes the comparison basis |
| Payment | Principal and interest; other estimated components | Prevents mixing partial and total payments |
| Costs | Itemized charges and credits | Shows what the upfront figures contain |
| Cash | Estimated cash to close | Connects the document to required upfront funds |
| Questions | Missing or inconsistent fields | Guides lender clarification |

Use the CFPB’s form explainer alongside the actual document. Do not rely on a summary to reproduce every condition or line item.

## A fictional reading note
“Estimate B uses a smaller down payment than A. The quoted loan amount is therefore different. Payment comparisons are not yet on the same basis.” This is a useful finding even before you calculate anything. It tells you what to ask the lender to revise or explain.

## Keep the AI task narrow
```text
Help me read this Loan Estimate by section.
First confirm the loan and document identity.
Then extract labeled amounts with page locations.
Flag values that do not match the supplied comparison basis.
Do not infer missing amounts, approval, affordability, or legal rights.
Prepare questions I can send to the lender.
Document excerpts: [redacted text]
Comparison basis: [confirmed terms]
```

Check tables and extracted text visually against the PDF. A misplaced label can make a correct number misleading. If you cannot read a field, mark it unreadable and obtain a clearer copy.

This workflow is for U.S. Loan Estimate organization. It does not cover every mortgage product or substitute for the lender’s explanation. Keep the original document and review date so later revisions can be compared accurately.

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SkillStall · 2026-10-02
CFPB: Loan Estimate explainer: https://www.consumerfinance.gov/owning-a-home/loan-estimate/