Set up a meeting with your loan officer to fill out the loan application. After you provide the required documents, a credit report will be ordered by the loan officer.
Your application is processed. The title work (assuring that your new home has a legal title) and appraisal (determining property value) for your new home are ordered.
Once the title work and appraisal of your new property are completed, these documents are added to your application file. All of your information is then sent to underwriting. This is where your application is approved, denied, or additional information is requested.
Once approved for your loan, your information is forwarded to the closing department. Documents and instructions for closing the sale of your new property are prepared and sent to the title company handling your closing.
The closing. Final documents are signed, funds are disbursed, payment (as spelled out in the terms of your mortgage loan) begin.