The Spokane Loan Estimate Checklist: 7 Lines I Review With Every Buyer
If you’re buying a home in Spokane, Eastern Washington, or North Idaho, there’s a good chance you’ll hear this phrase at some point:
“Your Loan Estimate is ready.”
You open it.
There are numbers everywhere.
And you wonder, What am I actually supposed to look at?
You’re not expected to figure this out on your own.
That’s why I walk through it with every buyer.
Here are the seven things I review every time, explained simply.
1. Loan Amount
This is how much money you’re borrowing.
It’s the home price minus your down payment.
This number affects your payment, your cash to close, and how the loan is set up.
First question I always check:
Does this match what we talked about?
2. Interest Rate
This is the rate tied to your loan.
What’s important to know is that the rate can change based on:
timing
loan type
and how the loan is structured
Two people can have the same rate and still pay very different amounts.
That’s why this number always needs context.
3. Monthly Payment (Principal & Interest)
This is the main part of your monthly mortgage payment.
It does not include taxes or insurance yet.
This is the number we look at and ask:
Does this feel comfortable month to month?
4. Discount Points
This line causes the most confusion.
Discount points are optional.
They are money you can pay upfront to get a lower interest rate.
Sometimes they make sense.
Sometimes they don’t.
When I review this with buyers, we talk about:
how long you plan to keep the home
how much the points cost
how long it takes to break even
There is no “right” answer — only what works best for you.
5. Origination Charges
These are fees for putting the loan together.
Every lender structures these a little differently.
What matters most is knowing:
what you’re paying
and why
If something doesn’t make sense here, that’s okay.
That’s exactly why we go over it together.
6. Cash to Close
This is the total amount you’ll bring to closing.
It usually includes:
your down payment
closing costs
minus any credits
This number can change as things get finalized, but early clarity helps you plan with less stress.
7. Rate Lock & Timing
This section is easy to miss — but very important.
It shows:
how long your rate is locked
and how much time the loan allows
We always review this so there are no surprises later if timelines change.
Why This Matters Right Now in Spokane
The Spokane market has slowed just enough to create options again.
That’s a good thing — but only if you understand what you’re choosing.
A Loan Estimate should not feel confusing or rushed.
It should feel clear.
Final Thought
You don’t need to be a mortgage expert.
You just need someone who will explain the numbers in a way that makes sense.
If you’re buying in Spokane, Eastern Washington, or North Idaho, I walk through every Loan Estimate step by step, answer questions honestly, and make sure the loan fits your real life.
That’s the goal — clarity, not pressure.
— Karin, Your Local Loan Lady
Spokane & North Idaho Mortgage Broker
Because You Deserve Better Lending