Step by Step Mortgage Process

The mortgage process involves several key steps from application to closing. Here is an overview:

• Research loan options and prequalify
• Get pre-approved before officially house hunting
• Find a home and get your offer accepted
• Submit loan application and required financial documents
• Lender orders appraisal and issues loan estimate
• Underwriting verifies information and assesses risk
• Receive closing disclosure outlining final terms
• Sign closing documents and take ownership

Following this step-by-step process will help make getting a mortgage smooth and efficient.

When deciding which mortgage options are the best fit for you, factors such as what mortgage payment aligns with your monthly budget, length of time you intend to live in the property and current interest rates are among the factors to be considered.