# Loan Estimate

> A standard three-page form every lender must give you within three business days of your mortgage application. It shows the rate, the monthly payment and the closing costs.

By David Knorr, founder of BuyWise Home. Last reviewed October 28, 2026. Web page: https://www.buywisehome.com/guide/glossary/loan-estimate

## Why it matters to you

Because every lender uses the same form, you can line them up and compare the rate, the points, the lender's fees and the cash to close. Keep yours: you'll compare it with your [Closing Disclosure](https://www.buywisehome.com/guide/glossary/closing-disclosure) before closing.

## Related

- [Step 2: Get pre-approved](https://www.buywisehome.com/guide/get-pre-approved)
- [Step 8: Close and move in](https://www.buywisehome.com/guide/close-and-move-in)
- [Closing Disclosure](https://www.buywisehome.com/guide/glossary/closing-disclosure): The final terms and costs of your loan, sent three business days before closing.
- [APR](https://www.buywisehome.com/guide/glossary/apr): The yearly cost of a loan, with some fees included, as one percentage.
- [Discount points](https://www.buywisehome.com/guide/glossary/discount-points): Money paid up front to lower your interest rate. One point is 1% of the loan.
- [Closing costs](https://www.buywisehome.com/guide/glossary/closing-costs): Fees paid at closing on top of the down payment, often 2%–5% of the price.

_General information based on the standard Georgia REALTORS® purchase contract and public guidance. Your own contract decides: read it, and ask your agent or closing attorney about anything that matters. Not legal or financial advice._