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Free LE Review: Have Dan Frio Check Your Loan Estimate Before You Sign

Watch: How to Read a Loan Estimate (Free LE Review)

Loan Estimate Review with Dan Frio: how to read your Loan Estimate

In this video I walk through a Loan Estimate box by box: what an LE is, how to read it, and how to compare two lenders apples to apples.

One application. One credit pull. We compare over 30 lenders.

Holding a Loan Estimate? Upload it above and I will tell you in plain English if your rate, fees and cash to close are fair. Free, one business day, no obligation.

What an LE Review Is

A Loan Estimate (LE) is the standard three-page form every lender must give you within three business days of applying. An LE Review is a line-by-line check of that form, because most borrowers compare the rate and miss the fees underneath it.

The Four Numbers I Check First

  1. Interest rate and lock status (page 1). Is the rate actually locked, or is it floating and able to change before closing?
  2. Box A, Origination Charges (page 2). The only box the lender fully controls: points, origination, underwriting, processing and application fees. This is where overpaying happens.
  3. APR (page 3). The rate with the lender's costs baked in. Two lenders quoting the same rate with different APRs are not offering the same deal.
  4. Cash to Close (page 2). What you actually bring to the table, and whether the lender low-balled the estimate to make it look smaller.

How Lenders Make an LE Look Cheaper

  • Low estimates for property taxes and insurance (Boxes F and G).
  • Points tucked into Box A to buy the lower rate.
  • Comparing total closing costs instead of Box A plus the rate.
  • A floating rate described as locked.
  • A different loan type than the one you were quoted.

How the Free LE Review Works

  1. Upload your LE above. A phone photo is fine; black out your Social Security number.
  2. I review it personally, with 38 years of reading these forms.
  3. Get a written summary in one business day: what is fair, what is inflated and what to ask your lender to fix.
  4. Optional: one application and one credit pull to compare 30+ lenders.

Prefer to talk? Call or text (630) 360-3490 or book a 15-minute call.

Loan Estimate FAQ

What is a Loan Estimate?

A three-page federal disclosure every lender must give you within three business days of a mortgage application. It shows your rate, monthly payment, closing costs and cash to close in a standardized format so you can compare lenders.

What does "LE" mean?

LE is loan-officer shorthand for Loan Estimate. If a lender says "I will send you the LE," this is the document they mean.

When do I get my Loan Estimate?

Within three business days after you give a lender six pieces of information: your name, income, Social Security number, the property address, an estimated property value and the loan amount you want.

Which section of the Loan Estimate matters most?

Box A, Origination Charges, on page 2. It is the only section the lender controls entirely, so it is where lender-to-lender differences show up.

Can I switch lenders after receiving a Loan Estimate?

Yes. Receiving a Loan Estimate does not commit you to anything. You can collect Loan Estimates from several lenders and choose the best one.

Is the LE Review really free?

Yes. No fee, no obligation. If you decide you want a competing quote, that is a separate conversation.

Do I have to be in Illinois?

No. I review Loan Estimates from anywhere. Mortgage assistance is available in the states and jurisdictions served by PBT Bancorp.

Related Resources

Dan Frio | NMLS #246527 | PBT Bancorp | NMLS #257781. Mortgage products are originated by PBT Bancorp, NMLS #257781. 524 Main St, Hazard, KY 41701. Equal Housing Lender. A Loan Estimate review is an educational service and is not a loan approval, commitment to lend or rate guarantee.

Want to go over your Loan Estimate live?

Book a free 30-minute call and Dan will walk through your fees and rate line by line, and show you how 30+ lenders compare.

Book a Free Call(844) 775-5626