Your Home Loan Roadmap
Know What to Expect at Every Step.
Understand the mortgage process from initial planning and preapproval through underwriting, final approval, and closing.
Start Here
Understand the Process Before You Begin.
Use these short videos to understand what happens during each stage, what may be requested from you, and how to keep your loan moving toward closing.
Stage by Stage
What Happens During Each Stage?
Open the stage you want to review for a concise look at your responsibilities, the loan team’s work, and possible timing factors.
1. Plan Your Strategy
What You’ll Do
Discuss goals, budget, timing, property type, occupancy, income, available funds, and other priorities.
What the Loan Team Is Doing
Identify possible financing paths and explain tradeoffs without presenting preliminary estimates as approvals.
What Can Affect Timing
Incomplete information, changing goals, or an unusual property or income scenario may require more review.
2. Get Preapproved
What You’ll Do
Complete the secure application, authorize credit when appropriate, and provide income, asset, employment, and identification documents.
What the Loan Team Is Doing
Reviews the initial file, estimates possible qualification, and explains that preapproval remains conditional.
What Can Affect Timing
Missing pages, unreadable documents, verification delays, or questions about income, assets, or credit.
3. Find the Right Property
What You’ll Do
Share the purchase contract and confirm how you plan to occupy and use the property.
What the Loan Team Is Doing
Reviews the contract, confirms property type and occupancy, updates estimates, and coordinates the appraisal and required inspections where applicable.
What Can Affect Timing
Contract changes, property eligibility questions, appraisal availability, repairs, or inspection-related requirements.
4. Application and Processing
What You’ll Do
Review disclosures and provide updated bank statements, paystubs, insurance information, and other requested items.
What the Loan Team Is Doing
Organizes and verifies the file, orders necessary services, and prepares the documentation for underwriting.
What Can Affect Timing
Updated or duplicate documents may be needed when earlier items expire, change, or require clarification.
5. Underwriting and Approval
What You’ll Do
Respond to conditions and provide any additional explanations or documentation requested.
What the Loan Team Is Doing
An underwriter reviews the complete credit, income, asset, property, and compliance file and issues conditions when clarification is needed.
What Can Affect Timing
Conditional approval is not clear to close. Additional conditions, third-party reports, or updated information can require further review.
6. Sign, Fund, and Close
What You’ll Do
Complete final verification, review the Closing Disclosure and cash-to-close instructions, and sign the final documents.
What the Loan Team Is Doing
Confirms final conditions, coordinates with verified closing or escrow contacts, funds the loan, and supports recording.
What Can Affect Timing
Final verification, document corrections, funding conditions, recording schedules, or unexpected changes to closing instructions.
Borrower Responsibilities
Help Keep Your Loan Moving
Clear communication and complete documentation can make each stage easier to navigate.
Continue making all existing mortgage, rent, credit, and other required payments on time throughout the loan process.
Timing and Review
Common Reasons a Loan May Need More Time
Some files need additional documentation or review as the borrower, property, and transaction details are verified.
- Missing or incomplete documents
- Unverified large deposits
- Employment or income changes
- New debt or credit inquiries
- Property or appraisal issues
- Title, insurance, or escrow delays
- Changes to the purchase contract
- Additional underwriting conditions
- Delayed responses from transaction participants
- Program-specific property requirements
Additional review does not automatically mean the loan will be denied. It means the file needs more information or verification before a decision or next step can be completed.
Security Reminder
Protect Your Information and Closing Funds
- Upload sensitive documents only through an approved secure system.
- Do not send Social Security numbers or financial documents through unsecured messages.
- Never rely solely on emailed wire instructions.
- Independently verify wiring information using a trusted phone number.
- Contact the loan or escrow team immediately if instructions unexpectedly change.
Frequently Asked Questions
Questions About the Loan Process
Requirements and timing vary by borrower, property, program, contract, documentation, and underwriting.
How long does the mortgage process take?
Timing varies with the transaction, contract, program, property, documentation, third-party services, and underwriting review. Your loan team can provide expectations based on the current file, but a specific closing date cannot be guaranteed.
Why am I being asked for updated documents?
Documents can expire, account balances can change, and underwriting may need current information or clarification. Updated requests help keep the file accurate through closing.
What is a conditional approval?
It means the file has been reviewed but specific conditions still need to be satisfied. It is not the same as final approval or clear to close.
What does “clear to close” mean?
It generally means required underwriting conditions have been accepted and the loan can move toward final closing preparation, subject to any remaining verification and closing requirements.
Can I change jobs during the loan process?
A job or income change can affect qualification and timing. Discuss any planned or unexpected change with the loan team before taking action whenever possible.
Should I open or close credit accounts before closing?
New inquiries, balances, or account changes can affect qualification. Speak with the loan team before opening, closing, or substantially changing credit accounts.
When will I know my final cash to close?
The final amount develops as loan terms, title or escrow figures, taxes, insurance, credits, and other closing details are confirmed. Review the Closing Disclosure and verify payment instructions with trusted contacts.
When do I receive the keys?
Key delivery depends on the contract, signing, funding, recording, and local closing practices. Your real estate and closing teams can confirm the timing for your transaction.
Ready for the Next Step?
Start With a Clear Financing Strategy.
Use the Program Finder to share the basics of your scenario, schedule a consultation for personal guidance, or continue to the secure application when you are ready.