During the loan application process, you'll work with your lender to determine your eligibility for a mortgage, folding in the terms of your loan, property details, down payment and other factors. If you qualify, you'll then discuss the terms and all the costs associated with the loan.
Here's what you can expect
The mortgage application
Your lender will work with you to complete a Uniform Residential Loan Application, and you’ll need to provide your most recent:
The approval process
Your lender will submit your information for approval, using the following to assess your eligibility:
Within three days of completing your application, your lender will send you a loan estimate that includes:
If you're approved, your lender will schedule a home appraisal to determine the market value of the home.
Tool and Resources
Step-by-Step Mortgage Guide
Understand the mortgage process, from application to closing.
Choosing the Mortgage Option for You
Learn more about the types of mortgages and the option that may be best for you.
CreditSmart® Homebuyer U
Learn what lenders are looking for in potential borrowers.