From pre-approval
to closing.
Know what happens, what you need to do and what comes next—one step at a time.
This guide follows a home purchase. Refinancing shares many of these steps, with different property and closing requirements.
GETTING READY
Prepare your finances
Start with a monthly housing budget that leaves room for other priorities, maintenance, and unexpected expenses. Consider taxes, insurance, association dues, and mortgage insurance when applicable—not just principal and interest.
Estimate your monthly payment →Explore your loan options
Your broker helps you explore available options and understand the information needed for a lender’s review. A pre-approval generally involves more verification than a preliminary prequalification.
Pre-approval vs. prequalification →UNDER CONTRACT
Find your home
Once your offer is accepted, share the signed contract and important deadlines with your mortgage team. The property, financing terms, and closing date become part of the loan plan.
Review your financing
Review the loan terms, payment estimate, closing costs, and cash to close. For loans that use a Loan Estimate, compare offers using the same loan amount, term, and comparable rate-lock assumptions.
Understand closing costs →Complete the lender review
The lender reviews your application and supporting records. Property valuation, title, insurance, and other checks are completed as required. Underwriting may request additional documents or explanations.
Mortgage application checklist →PREPARING TO CLOSE
Get ready to close
Your team coordinates outstanding conditions and closing preparations. Clear-to-close is an important milestone, but signing and funding still have to occur.
Mortgage questions & answers →Sign, fund & plan ahead
At closing, review and sign the required documents. Funding and possession timing depend on the transaction, lender, and state. Certain refinances have a rescission period, so signing and funding may happen on different days.
Help keep your closing on track.
Keep your mortgage team informed and respond promptly when they need something from you.
Appraisal, title, insurance, property issues and underwriting requests can affect timing. No closing deadline or approval is guaranteed.
- Send every page of requested statements.
- Share changes to your finances or purchase contract.
- Check with your Loan Officer before taking on new debt or changing employment.
- Ask questions early when something is unclear.
Let’s talk about your next step.
Whether you’re getting ready or already under contract, we can help you understand what comes next.
General educational information. Loan availability and requirements vary by program, lender, property and borrower qualifications. This page is not a commitment to lend.