Mortgage Loan Process 2025 — Pre-Approval to Closing
Know exactly what happens from pre-approval to keys—timelines, documents, and how we keep your loan on track.
Prefer to talk it through? Call (480) 336-3737.
At-a-glance timeline
- Pre-approval: often same day with complete docs
- Home search & offer: varies by market
- Contract → close: typically ~21–30 days (program/appraisal dependent)
Mortgage Loan Process: 7 Steps (2025 Guide)
1) Pre-approval
We verify credit, income, and assets to set your max price and comfort payment. You’ll get a strong pre-approval letter sellers trust.
2) Offer & full application
We finalize your loan structure (Conventional, FHA, VA, or Jumbo), lock in your plan for rate buydowns/seller credits, and complete your digital disclosures.
3) Rate lock & Loan Estimate (LE)
You receive the Loan Estimate with rate, payment, and itemized costs. We’ll walk you through it and compare scenarios before you e-sign.
4) Processing & appraisal
Our team orders title, appraisal, insurance, and needed verifications. Some files qualify for an appraisal waiver; if not, we manage the schedule and any value-gap strategy.
5) Underwriting
An underwriter reviews your file and issues conditional approval. We’ll help you satisfy any final conditions quickly.
6) Closing Disclosure & clear-to-close
You’ll get the Closing Disclosure (CD) ~3 business days before signing, with final cash-to-close (down payment + ~2–5% closing costs + prepaids).
7) Signing, funding & keys
Sign with a notary, funds are released, and you get keys. After closing we review first payment, and strategies for PMI/MIP removal or a future refinance.
What’s in the monthly payment
PITI + MI/HOA = Principal + Interest + Taxes + Insurance + Mortgage Insurance (if <20% down on Conventional; FHA has MIP) + HOA (if applicable).
What we’ll need from you
Government ID • Income docs (W-2/1099/tax returns if self-employed) • Recent paystubs • Two months’ bank/asset statements • Insurance agent contact • Purchase contract.
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