Estimate Lens glossary
Key terms
What it means
These terms appear on the Loan Estimate form, each defined with a primary source.
Last reviewed against the primary sources listed below.
- Intent to proceed
- Your statement to a lender that you choose its Loan Estimate and want to move forward. Source: CFPB: Loan Estimate explainer
- Tolerance
- The limit on how much certain closing costs can rise between the Loan Estimate and closing. Source: CFPB: Can my final mortgage costs increase from what was on my Loan Estimate?
- Total Interest Percentage
- A figure on page three showing total interest over the loan term as a share of the loan amount. Source: CFPB: What is a Loan Estimate?
- Cash to close
- The amount you need to bring to closing, shown on page one and broken down on page two. Source: CFPB: What is a Loan Estimate?