The Mortgage Lending Process

Here's what you can expect when applying for a mortgage or refinancing your loan.

What to Do

What to Expect


  • You're ready to start the application process
  • You can talk to a mortgage loan officer at 1-866-325-4516 if you have additional questions


  • Start the prequalification process by providing your income and debt, along with information about your prospective property 
  • We will obtain and review your credit report
  • Your credit profile, combined with the information you provide, will allow us to estimate what you'll qualify for to purchase a home
  • If qualified, you'll receive a letter you can show real estate agents and sellers to schedule showings and make offers


  • You will need a signed purchase and sale agreement to start your application
  • Have all your documentation ready
  • If you're building your home, you'll need a signed construction or purchase contract with your builder or developer

Within 24 hours of submitting your application, we will:

  • Strive to give you a conditional decision
  • Call you to review your loan conditions, documentation and next steps
  • We will provide you with a Loan Estimate of your closing costs within 3 business days of submitting your application

Processing Your Application

Make sure you send us any additional requested information by the date on your conditional approval letter

Once we receive all your documentation, we will:

  • Process your application
  • Review your credit report
  • Verify your information

Home Inspection

Pay the service provider at the time the service or test is completed. These expenses are not paid at closing

You will need an inspection of the property you want to purchase. You or your real estate professional will arrange for a home inspection – the inspector will meet you at the property you are purchasing.

  • You may also choose to have additional tests done (air, water, pest, etc.)

Home Appraisal

The bank receives the appraiser's report and verifies that your loan amount doesn't exceed the property's value. A copy of the appraiser's report is given to you once it's reviewed by the underwriter, and the appraisal fee is included in your closing costs

The bank arranges an appraisal of your home with a licensed appraiser. Your home's title will be researched by a title company to be sure that the property is legally cleared for transfer of ownership

Note: The appraisal process is different if you are building your home


You must provide any additional information the bank requests in order to finalize the review process

The underwriter receives and reviews all information provided to ensure loan guidelines have been met


You will be informed of the time, date and location of your closing. You will receive the amount of your closing costs within 24 hours before your closing so you can get a certified or bank check for the amount

Generally, your mortgage will be ready to close in 30–45 days.

  • The closing will take place at the office of a title company or attorney in your area who will act as our agent
  • The closing agent will contact you with a closing date and time, and what you will need to bring to the closing (such as personal identification, check for closing costs, etc.)
  • Look for the closing costs from us within 24 hours before your closing
  • Once you have the closing costs, get a certified check or a bank check for the amount of your closing costs – we will tell you whom the check should be made out to

Note: Foreclosures and short sales may take longer to close due to seller considerations

Online mortgage resources

Loans subject to credit approval. Equal Housing Lender 

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