Conditional loan approval means that certain conditions must be met before the loan funds, such as validating the value by appraisal. You can not compare rate or cost until you have all the facts. Often buyers commit to a mortgage provider based on the lowest rate quote. However, the lowest rate loan is not necessarily the least cost or the best loan for you. Think of it as buying a product - the product in this case is a mortgage loan or money.
Mortgages are no different.
The cost consists of rate, points, and closing costs. The rate depends on several variables such as points, credit history, type of loan product, amount of the loan, term of the loan, and whether or not the rate can change. The rate can be lowered by paying higher points and vice versa. Closing costs include various fees such as credit report, appraisal, and documentation. For example, a published low-ball rate most likely will have either or both higher points and closing costs.