You share basic financial details to get an initial idea of your borrowing power. This helps you understand what price range and loan programs you may qualify for.
Submit income, asset, and credit documents for verification.You receive a Pre-Approval Letter, which strengthens your purchase offers and shows sellers you’re a qualified buyer.
Work with Work with your realtor to find a property.
Once you choose a home, your lender prepares updated numbers and helps structure a strong offer.
Complete the full mortgage application online.
Your loan officer reviews loan options, interest rates, and disclosures with you.
Your loan file is organized and prepared for underwriting.
The processor orders required documents such as:
• Employment verification
• Tax transcripts
• Appraisal
• Title work
• Insurance quote
An underwriter evaluates your full file to ensure it meets guidelines.
They may issue conditions—additional documents or clarifications needed before approval.
You provide the remaining items requested by the underwriter.
Once conditions are satisfied, the loan moves toward final approval.
A licensed appraiser determines the property’s market value.
The lender reviews the report for accuracy and program compliance.
Once all documents are complete and approved, your loan receives Clear to Close, meaning you're ready for signing.
You receive your Closing Disclosure (CD) at least 3 days before closing.
It outlines final numbers: loan amount, rate, closing costs, and monthly payment.
You sign the final loan paperwork, funds are released, and the property title is transferred (for purchases).
For refinances, your new loan replaces the old one and the process is complete.
For purchases – you receive your keys!
For refinances – your new loan officially funds and takes effect.
