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Beat My Offer – Estimated Savings Disclosure | NerdWallet

Personal Finance
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Updated: Dec. 7, 2018

Your estimated savings amount (the amount of interest you’ll save over the life of a fixed loan) is the difference between the mortgage loan interest rate you reported and interest rates and known fees from our loan partners. Known fees may include private mortgage insurance and/or lender origination fees. They do not include additional fees or costs that may be applied to your loan, such as periodic interest rate changes on adjustable rate mortgage (ARM) options, application fees, appraisal fees and other upfront costs and expenses, nor do they include taxes or homeowner’s insurance, which would increase your total loan payment amount. Rates shown are based on “zero points” and do not include “discount points” (upfront costs a lender may charge to provide a lower interest rate) or “negative points” (lender credits toward closing costs in exchange for a higher interest rate).

Your interest rate and total savings may vary. Your eligibility for any specific loan rates and terms depends on verification of information, your credit history, the location and type of property, and other factors as determined by lenders. NerdWallet does not guarantee that you will be able to obtain the Estimated Savings or that any lender will extend you credit. Interest rates are subject to change daily without notice.

NerdWallet does not take mortgage applications, originate, service, or make credit decisions in connection with loans, nor does it issue commitments or lock-in agreements. See your lender’s Terms for more information.