The mortgage process includes borrower and property review, documentation, underwriting, conditions, and closing. An early approval is not the same as a final commitment, and the sequence can vary.
01 · Start with a conversation
Discuss your goals, timeline, housing budget, and questions. An initial conversation is different from a completed application or a loan commitment.
02 · Apply and document
Use the secure application and provide requested records through the approved process. Documentation can cover identity, income, assets, credit, and the transaction.
03 · Review the property
The lender reviews the property under the applicable program. An appraisal and an independent home inspection have different purposes, and either can uncover issues that need attention.
04 · Underwriting and conditions
Underwriting reviews the application, documentation, and property. A conditional approval means stated items still need to be satisfied, not that the process is finished.
05 · Final review and closing preparation
Review the final terms and closing documents carefully. Respond to remaining requests, confirm funds through trusted channels, and verify any wire instructions directly using a known phone number.
06 · Closing and the next chapter
Sign the required documents and complete the applicable funding and settlement process. Keep your records and confirm where and when to make payments. Timing can vary by transaction.
Keep changes in the conversation
Tell your loan team about changes to employment, income, credit, funds, the contract, or intended property use. Avoid assuming a new debt or major transfer will have no effect just because an earlier review went well.