mortgage process timeline

The Mortgage Process Timeline: In 7 Steps

Getting your first mortgage can be straightforward as long as you understand each step and the process behind each step. Take a look at the mortgage process broken down into 7 easy to understand steps.

The Mortgage Process Timeline: In 7 Steps


The first step is to talk with a lender to become pre-approved. This can take up to a week and involves a few easy to answer questions. These questions can include your yearly salary, your assets, previous tax returns, and bank account information. Once you get pre-approved for a mortgage you’re able to move to the next step of the mortgage process.

Look For Homes and Submit Offer

This step can take the longest of all the steps in the mortgage process as it requires you to house hunt with your agent. The typical house hunt takes about 3 months, but can be much quicker if you know exactly what you want and where you want to live. Once you find the house that is best suited for you and your family, it’s time to submit the offer. Your agent will help take care of the paperwork for submitting an offer.

Finalize Loan Application

This step is to update any documents you originally submitted for your pre-approval. For example, if you received gift funds to go toward your down payment, you’ll need additional documentation from the person gifting you funds stating they sent you the money. You’ll also need to provide a copy of their bank statement showing the money left their account and a copy of your bank statement showing you received the funds.

Process Loan

Your lender will assign a processor who packages your file and monitors progress. This step usually take around 2 weeks to complete, and your lender will communicate if they need additional documents from you.


During this step of the mortgage process, an underwriter verifies that your loan fits all the guidelines and issues mortgage commitment. This step can take anyway from 5-20 business days to complete.


This is the second to last step of the mortgage process. In pre-closing, your lender finalizes the last details of your loan. These final details can include who you are using for home owner’s insurance and including if you need to pay an HOA monthly or yearly fee. Your lender will then need to discuss the title rundown and title insurance.


This is the step of the mortgage process you’ve been waiting for! In the closing step, the attorney finalizes the paperwork and issues closing disclosure. You then meet at the title office and sign closing document and take ownership! Generally it takes 48 hours for the closing documents to process, so one you get the go ahead you’re able to move into your new home!

You may also like: 6 Things Not to Do When Buying a Home in Pierce County.

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