Your mortgage timeline explained
From pre-approval to clear-to-close. Every step in the lending process.
Pre-approval (before you shop)
Get pre-approved before you start looking at homes. The lender reviews your income, assets, credit, and debts to determine how much you can borrow. Pre-approval letters typically last 60-90 days. This shows sellers you are a serious, qualified buyer.
Loan application (days 1-5)
After your offer is accepted, you formally apply for your mortgage. You will provide tax returns, pay stubs, bank statements, and employment verification. The lender orders the appraisal at this stage.
Processing and underwriting (days 5-25)
The underwriter reviews everything: your financials, the appraisal, the title search, and the property itself. They may request additional documentation (called "conditions"). Respond to conditions requests quickly to avoid delays.
Clear to close (days 25-30)
Once the underwriter approves everything, you receive a "clear to close." The lender prepares your Closing Disclosure, which must be delivered at least 3 business days before closing. Review it carefully and compare it to your Loan Estimate.
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