Loan Estimate vs Closing Disclosure: Every Line Compared

The Loan Estimate and the Closing Disclosure are the same document at two points in time. The LE shows you what the lender promises three days after you apply. The CD shows what you actually sign three days before closing. Same three pages, same line layout, same sections — and the law says the numbers are only allowed to move within tight limits.

Page 1 of both is the money page: loan amount, rate, monthly payment, and the closing costs column. On the LE that column is an estimate. On the CD it is final. The rule of thumb: if your LE said $9,000 in closing costs and the CD says $11,200, the lender owes you an explanation — or a revised estimate. Costs in the "can increase" column (origination, title) can move, but only with a valid changed circumstance. Costs in the "cannot increase" column (lender credits, transfer taxes) are locked once the LE is issued.

The differences that matter: the CD adds the cash-to-close table broken out by source of funds, the payoff amounts for any existing loans, and the signature block. The LE just totals it. Interest on the LE is shown as a daily amount; on the CD it is prorated to your exact closing date. If you close on the 20th, you pay 11 days of interest on the CD even if the LE quoted the daily rate.

Watch the rate lock line. Page 1 of the LE says whether your rate is locked and until when. If the lock expires before closing and rates moved, the CD will show a higher rate — and a higher payment. That is the single most common surprise between the two documents, and it is entirely avoidable: confirm the lock date is after your scheduled closing before you pay for the appraisal.

Bottom line: keep the LE in the drawer, pull it out next to the CD, and compare line by line. Any line that moved more than the legal tolerance needs a written explanation before you sign.