Comparewell glossary
Key terms
Coach's call
These are the terms that come up most while shopping for a mortgage, each defined in plain language with a primary source.
Last reviewed against the primary sources listed below.
- Loan Estimate
- A standard three-page form a lender must give within three business days of your application, showing the loan terms and estimated costs. Source: CFPB: What is a Loan Estimate?
- Shopping window
- The short period in which credit scoring models generally count several mortgage inquiries as one. Source: CFPB: What happens when a mortgage lender checks my credit?
- Hard inquiry
- A credit check made when you apply for credit, which can affect your score. Source: CFPB: Credit reports and scores
- Competing offer
- A written Loan Estimate from one lender that you show another lender to ask for better terms. Source: CFPB: What happens when a mortgage lender checks my credit?