From Consultation to Keys
The Mortgage Loan Process
A clear, start-to-finish view of the purchase loan journey—and what happens at every stage.
Your Loan Timeline
Move forward one clear step at a time.
Every transaction is different, and some steps may overlap or occur in another order. This roadmap shows the typical flow for a financed home purchase.
- 01
Initial consultation
Discuss goals, timing, budget, occupancy and property plans. Duane helps identify suitable financing paths and the information needed to move forward.
- 02
Application
Complete the secure mortgage application with borrower, employment, income, asset, debt and housing information.
- 03
Documents
Provide the requested income, asset, identification and property documents. Requirements depend on the borrower, program and transaction.
- 04
Initial disclosures
Review the Loan Estimate and other required disclosures. Ask questions, select the loan structure and communicate your intent to proceed when ready.
- 05
Pre-approval
Credit, income, assets and debts are reviewed for a conditional pre-approval and purchasing strategy. This is not final loan approval.
- 06
Purchase contract
After an accepted offer, send the complete signed contract and transaction contacts so deadlines, loan terms and property details can be confirmed.
- 07
Appraisal ordered
The appraisal is ordered when appropriate. An independent appraiser evaluates the property; this is separate from a home inspection.
- 08
Initial underwriting
The underwriter reviews the borrower, credit, income, assets, property, appraisal, title, insurance and program eligibility.
- 09
Conditions
Provide explanations or additional records requested by underwriting. Updated financial documents may be needed before final approval.
- 10
Final underwriting
The completed file returns to underwriting for confirmation that required conditions and program guidelines have been satisfied.
- 11
Clear to Close
The loan receives authorization to move toward closing, subject to final documents, timing, verified funds and any remaining closing requirements.
- 12
Closing Disclosure
Review the final terms, payment and cash to close. For most covered loans, the disclosure is provided at least three business days before consummation.
- 13
Signing
Sign the promissory note, security instrument and other closing documents. Confirm instructions directly before sending any funds.
- 14
Funding and recording
After signed documents and required funds are accepted, the lender funds the loan and the transaction is submitted for recording.
- 15
Get the keys
Once recording and the contractual release requirements are complete, coordinate key delivery with the real-estate professionals. Welcome home.
Take the first step with confidence.
Start with a conversation about your goals, budget and timeline.
Timing, documentation and approval conditions vary. A pre-approval is not a guarantee of final approval, and Clear to Close may remain subject to closing and funding requirements.