Make the quotes match
Give every lender the same property, loan amount, down payment, term, and rate-lock period. Ask each one to state the points and pricing assumptions out loud. If one lender quoted a 30-day lock and another a 60-day lock, you aren't comparing the same loan.
Look past the monthly payment
Section A of the Loan Estimate shows origination charges and points. Add in total closing costs, mortgage insurance, and the escrow assumptions. The five-year cost figure on page three is the quickest way to compare two offers.
Decide how long you'll keep the loan
Paying points to lower the rate only pays off if you keep the loan long enough to earn the upfront cost back. Divide the extra closing cost by the monthly savings to find the break-even month, then be honest about whether you'll move or refinance before then.
Now put it to use
Take these questions to the comparison and see which company answers them best.
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