MORTGAGE PROCESS
From Application to Closing
A mortgage can feel complicated when you don't know what comes next. Here's a simple look at the process from the first conversation to closing day.
The 8 Steps at a Glance
Step 1 · Initial Review
Tell Us What You're Trying to Do
We start by understanding your goals.
We may ask about:
- purchase or refinance
- property type
- estimated purchase price or property value
- planned down payment
- income and assets
- credit
- whether the property will be your home or an investment
You do not need to know which mortgage program you need. That's what we help determine.
See home loan optionsOutside the United States?
Depending on the lender, title company and transaction, some closings may be completed using:
- approved Remote Online Notarization
- Power of Attorney
- U.S. Consulate/Embassy signing
- other approved signing arrangements
The signing method must be approved in advance.
Explore Foreign National MortgagesWhat Can Cause Delays?
Some common causes:
- missing documents
- slow responses to underwriting conditions
- appraisal delays
- insurance issues
- title or condo documents
- changes to income, credit or assets during the process
Process Questions
View All FAQsTiming depends on the program, property, appraisal and how quickly documents are provided. We review the expected timeline with you before application.
Pre-qualification is generally an initial assessment based on the information provided by the borrower. Pre-approval usually involves a more detailed review of income, assets, credit and applicable loan guidelines. The exact terminology and level of review can vary by lender.
A mortgage appraisal is an independent valuation of the property performed by a licensed or certified appraiser for the lending transaction. The lender uses the appraisal as part of its analysis of the property and collateral.
Ready to Get Started?
Tell us what you're looking to finance and we'll help you understand the next step.