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You and the seller agree upon
the home price and closing date.

Your loan application is updated
and any additional information
required is requested.

Any additional required documentation
is gathered with your help

All of your documentation
and your appraisal have been
reviewed and approved

Your Account Manager
confirms your closing date

You sign all necessary
paperwork to close your loan

Congratulations,
enjoy your new home

The Path

TO YOUR NEW HOME

The timeline below gives a general idea of the stages in home financing when purchasing a new home and how long the process can take once a seller has accepted your offer.

PREPARING TO SHOP

1

YOU CALL A MORTGAGE COMPANY
To Get Conditionally Preapproved* For A Home Loan

*Additional information will be required for final credit approval.

Go through a Credit Check

Submit your:

W2's or Tax returns

Pay stubs


Bank statements

PREPARING TO SHOP

1

THE UNDERWRITER GIVES YOU
Conditional Loan Approval

Loan has been reviewed
by an Underwriter.

Confirms your buying
power in writing.

Makes you ready
to shop for a home.

SHOPPING

2

SEARCH FOR YOUR NEW HOME
And Make An Offer

SHOPPING

2

THE Seller HAS
ACCEPTED YOUR OFFER

FINALIZING YOUR LOAN

3

DAY

1–6

AN INDEPENDENT COMPANY
Appraises YOUR NEW HOME

FINALIZING YOUR LOAN

3

DAY

7–12

The Mortgage Lender
Receives Your Appraisal

FINALIZING YOUR LOAN

3

DAY

13–20

YOUR ACCOUNT MANAGER
Prepares Your Loan For Closing

FINALIZING YOUR LOAN

3

DAY

21–25

UNDERWRITER ISSUES A
Final Approval ON YOUR LOAN

FINALIZING YOUR LOAN

3

DAY

25–29

The Mortgage Lender Sends
OUT YOUR Final Closing Documents

FINALIZING YOUR LOAN

3

DAY

30

AT YOUR Closing

FINALIZING YOUR LOAN

3

DAY

30

YOUR LOAN FUNDS
Congratulations!

PLEASE ROTATE YOUR DEVICE