Step 1:
Pre-Approval

A loan pre-approval sets you up for a smooth home buying experience and gives you an idea of how much house you can afford. This will narrow down your search and save time. Apply now to begin working on your pre-approval.

Step 2:
House Shopping

Once you’ve been pre-approved, it’s now time to start working with your Realtor and viewing homes.

Step 3:
Apply for Mortgage

A few documents are needed to get a loan file through underwriting. Some of the information will be gathered online or over the phone.

Step 4:
Opening the File

Loan processors gather documentation about the borrower and property, review all information in the loan file and assemble an orderly and complete package for the underwriter. 

Step 5:
Underwriting

The underwriter is the key decision-maker. They closely evaluate all the documentation prepared by the loan processor in the loan package.

Step 6:
Closing

Documents (everyone in the mortgage industry calls them loan docs) are drawn, meaning they are printed out and sent to the title company (or attorney's office) where the closing meeting takes place. You can expect a big stack of papers.