free home loan quote: what to know before you compare

Why getting a quick estimate matters

A free home loan quote gives you a realistic picture of rates, fees, and monthly payments without committing to a lender. It helps you set expectations, refine your budget, and spot the difference between promotional headlines and the all-in cost.

What affects your quote

Lenders weigh credit score, income stability, loan-to-value, property type, and the length of the term. Small changes-like choosing to pay points or adjusting the down payment-can shift the rate and total cost more than you might expect.

• Rate vs APR: The APR wraps in lender fees; it’s better for apples-to-apples comparisons.
• Hard vs soft check: Ask whether the quote uses a soft inquiry to avoid dinging your score.
• Lock period: Shorter locks can be cheaper but risk market moves.
• Discount points: Paying upfront can lower your rate if you’ll keep the loan long enough.
• Closing costs: Request an itemized estimate to see what’s negotiable.

Ready to proceed? Gather recent pay stubs, bank statements, and property details so your quote is timely, accurate, and truly comparable across lenders.