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


Watch: Loan Estimates vs Reality, What They Are Not Telling You

In this video I walk through a Loan Estimate section by section: 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 and not sure if it is a good deal? Upload it above and I will go through it line by line and tell you, in plain English, whether the rate, the fees and the cash-to-close number are fair, or whether you are about to overpay. It is free, it takes about one business day, and there is no obligation to use me for the loan.

What an LE Review Is

Every lender is required to give you a Loan Estimate (industry shorthand: "LE") within three business days of your application. It is a standardized three-page form, the same layout from every lender, which is supposed to make offers easy to compare. In practice most borrowers look at one number, the rate, and miss the fees stacked underneath it.

Think of it like a car dealer. The sticker price on the windshield is the rate. The floor mats, paint protection and "dealer prep" are the fees. An LE Review is me walking around the car with you and pointing at every add-on.

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 a Loan Estimate Look Cheaper Than It Is

  • Under-estimating property taxes and homeowners insurance (Boxes F and G) so the total looks lower. Those numbers are the same no matter who your lender is. A low estimate is not savings, it is a surprise at closing.
  • Quoting a rate that requires points without making it obvious you are paying for it in Box A.
  • Pushing you to compare "total closing costs," which mixes lender fees with third-party fees and prepaids you would pay anywhere. The only apples-to-apples comparison is Box A plus the rate.
  • Leaving the rate floating while telling you it is locked.
  • Quietly changing the loan type (conventional to FHA, 30-year to 25-year) between the quote and the LE.

How the Free LE Review Works

  1. Upload your Loan Estimate using the form above. A photo from your phone is fine. Black out your Social Security number if it appears; I do not need it.
  2. I review it personally. 38 years of reading these forms, thousands of them.
  3. You get a written summary within one business day: what is fair, what is inflated, and what to ask your lender to fix.
  4. Optional: if you want a competing quote, it is one application and one credit pull, and we compare over 30 lenders to find the better deal. No pressure either way.

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