The mortgage process can feel like a black box. In reality it follows a clear set of steps, and knowing them ahead of time removes a lot of the stress.
The six stages
- Documentation: you gather income, asset, and identity documents
- Appraisal: an independent expert confirms the home's value
- Underwriting: the lender reviews everything and verifies your file
- Conditional approval: approved, pending a few final items
- Clear to close: all conditions met and you are ready to sign
- Closing: you sign, funds transfer, and the home is yours
How long it takes
Many purchases close in roughly three to five weeks once you are under contract, though timelines vary with the property, the program, and how quickly documents come in.
How to keep it moving
Respond to document requests quickly, avoid opening new credit or making big purchases, and keep your loan officer in the loop on any changes.
Want the detailed walkthrough? Our Mortgage Process pages break down each step with what you need to do.