Get Pre-Approved
One Simple Rule
When in doubt, ask before you act.
If you're buying a home, talk with your mortgage team before making major financial changes. A quick conversation can help you understand whether something could affect your loan.
Our Step-by-Step
Homebuying Process
Ready for a clear path to your new home? We’ve mapped out the entire homebuying process into 8 simple steps, showing you exactly what to expect from day one through funding day.
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Get Pre-Approved
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Find Your Home
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Loan Submission
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Underwriting
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Approved With Conditions
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Clear to Close
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Loan Closing
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Your Loan Is Funded!
Get Pre-Approved
Start your home search with a better idea of what you may qualify for.
Before you start seriously shopping for a home, we'll review your financial information to help determine how much you may be able to borrow and which loan options may fit your situation.
We'll review things like:
- Income and employment
- Credit history
- Monthly debts
- Bank accounts and available funds
- Down payment
- Your homebuying goals
Once we've reviewed the information we need, we'll provide a pre-approval letter showing the estimated loan amount you may qualify for. Your pre-approval letter can help you and your real estate agent understand the price range you may want to consider. When you're ready to make an offer, it can also show the seller that you've already taken steps toward getting your mortgage started.
We'll help you understand your pre-approval and answer your questions so you can start your home search with a clearer idea of what may fit your budget.
Find Your Home
Now you can start shopping with your pre-approval in hand.
With your pre-approval in place, you can work with your real estate agent to start looking for a home.
Your real estate agent can help you:
- Find homes that fit your needs
- Schedule showings
- Compare homes and neighborhoods
- Prepare and negotiate an offer
- Work through the purchase contract
As you compare homes, remember that your monthly mortgage payment can include more than principal and interest. Depending on the home and loan, you may also have:
- Property taxes
- Homeowners insurance
- Mortgage insurance
- HOA dues
We'll help you understand how the home you're considering may affect your estimated monthly payment. This can help you compare homes and decide which monthly payment feels comfortable for you.
Helpful Tools
Home Affordability Calculator
Estimate a potential home price based on income, debts, down payment, and other housing costs.
Mortgage Payment Calculator
Estimate your potential monthly mortgage payment based on the loan amount, interest rate, loan term, and other factors.
Debt-to-Income Ratio Calculator
See how your monthly debts compare with your gross monthly income and get a better understanding of how your debt may affect your homebuying budget.
Loan Submission
Your offer is accepted. Now we'll get your mortgage moving.
Once you're under contract, we'll work with you to complete your mortgage application and gather the documents the lender needs to initially review your loan.
We'll review your information and documents with you, answer any questions, and make sure everything we need is ready before we send your loan to the lender.
Once we have the information needed, we'll send your loan and supporting documents to the lender for review.
Underwriting
The lender takes a closer look at your loan.
Once your loan has been sent to the lender, the lender's underwriting team will carefully review your application, financial information, and the home you're buying.
The review may include:
- Income and employment
- Credit and monthly debts
- Bank accounts and available funds
- The home you're buying
- Your loan program
- Other information or documentation needed for the loan
How Long Does Underwriting Take?
The underwriting stage normally takes about 1–3 business days, although actual timing can vary depending on the lender, your loan, the documents needed, and the lender's workload.
While Your Loan Is in Underwriting
You may need to:
- Provide additional documentation
- Get homeowners insurance quotes
- Provide insurance information when requested
- Place an appraisal order, if requested by the lender
We'll also help you review your documents and make sure everything is ready before submission.
Approved With Conditions
Your loan is approved, but a few requirements may still need to be completed.
After reviewing your loan, the underwriter may issue an approval with conditions.
Conditions are additional requirements that need to be satisfied before the lender can give final approval and move the loan toward closing.
Depending on your situation, conditions could include:
- Updated income documentation
- Additional bank statements
- Verification of employment
- Documentation for deposits or transfers
- Explanation letters
- Insurance information
- Property-related documentation
- Other lender requirements
We'll Help You Take Care of Each Condition
You don't have to figure out what the lender wants on your own.
We'll:
- Explain what the lender is asking for
- Tell you what documents are needed
- Help you understand why they're needed
- Review documents with you when appropriate
- Send the requested information to the lender
- Follow up with the lender as your loan moves forward
Our goal is to help you take care of each request and keep your loan moving toward final approval.
Interest Rate & Rate Lock
We'll explain your available rate options and help you understand how a rate lock works.
We'll go over:
- Your available rate options
- When you may want to lock your rate
- How long the rate lock lasts
- What happens if your closing is delayed
- How certain changes to your loan could affect your rate lock
If you decide to lock your rate, we'll work with the lender to request and confirm the rate lock based on that lender's terms.
We'll help you understand your choices so you can make an informed decision.
Clear to Close
You've made it through the major loan review. Now we're getting ready to close.
Once the lender has received and approved the required documents and all remaining conditions have been cleared, your loan moves to Clear to Close.
At this point, we'll work with the title company and lender to schedule your signing and funding dates, ensuring all parties are aligned for a smooth experience.
Review Your Closing Disclosure
Before closing, you'll receive a Closing Disclosure with the final details of your mortgage, including:
- Loan amount
- Interest rate
- Monthly payment
- Closing costs
- Cash needed to close
- Prepaid and escrow amounts
- Other loan terms
In most cases, you can expect to receive the Final Closing Disclosure (CD) at least 3 business days before closing, giving you time to review the information and ask questions.
We'll be available to help you understand the mortgage details and answer questions you may have.
Loan Closing
It's time to sign your documents and complete the purchase.
You've made it to closing!
Depending on your state and transaction, the closing may be coordinated by a:
- Title company
- Escrow company
- Closing attorney
- Other settlement agent
You'll review and sign the documents required to complete the purchase and mortgage transaction.
Before You Sign
Take your time reviewing the documents and ask questions about anything you don't understand.
We'll remain available to help answer questions about the mortgage side of the transaction, while your title, escrow, attorney, or settlement professional can address questions about the closing documents and transaction itself.
Once the required closing documents have been signed and the closing requirements have been completed, the transaction moves to funding.
Your Loan Is Funded!
It’s time to pop the champagne!
After the closing documents are signed, the loan moves through the final funding process.
The selected lender reviews the completed closing package and confirms that the requirements for funding have been met.
Once the lender funds the loan, the mortgage proceeds are disbursed according to the transaction.
Depending on the state and transaction, funding and recording may occur immediately after closing or at a later time. Your title, escrow, or settlement company will coordinate these final steps.
Once the transaction has been funded and the applicable closing requirements are complete, your home purchase is complete!
Congratulations — the key is yours to take!
How Lock It Mortgage Helps Along the Way
A mortgage involves more than submitting an application and waiting for an approval. Our job is to help you understand your options, prepare the right information, and navigate the mortgage process from start to finish.
We Shop Around So You Don't Have To
We shop multiple wholesale lenders to secure the most competitive rates, optimal closing costs, and the ideal loan program tailored to your financial structure, goals, and budget.
Flexibility to Build the Right Structure
With a wide variety of home loan solutions, we can easily accommodate your unique income profile and long-term financial goals.
A Straightforward, Simple Process
We keep the document gathering straightforward, tracking only what is necessary to get your file across the finish line.
No Guessing Games
You will always know exactly where everything stands with clear, honest milestone updates from start to finish.
Complete Transparency
We provide clear, upfront breakdowns of all loan costs so you can plan your budget with total clarity and no unexpected surprises.
Focus on Long-Term Affordability
We’re not just about transactions, but how comfortably borrowers can afford their mortgages even after the loan closes.
A Proven Track Record You Can Count On
Trusted by 1,700+ homebuyers and homeowners across 45+ states.
How Long Does the Homebuying Process Take?
There's no single timeline that applies to every home purchase. The time it takes can vary depending on the property, loan program, lender requirements, and how quickly everyone involved completes their part of the process.
Once you're under contract, a typical mortgage closing may take about 21–45 days.
The actual timeline can depend on:
- How quickly required documents are provided
- How quickly the loan application is completed
- Lender processing and underwriting
- Satisfying lender conditions
- Property appraisal and review
- Title and closing requirements
- Homeowners insurance
- Any issues that need to be resolved before closing
Some well-prepared transactions may close in as little as 15–21 days, particularly when the buyer has been carefully pre-approved, required documentation is ready, and the lender and other parties can complete their reviews quickly.
The earlier you prepare your finances and documentation, the more time you have to address potential issues and keep your home purchase moving toward closing.
What Can Delay a Mortgage Closing?
A number of things can affect your closing timeline. Some are within your control, while others depend on the property, lender, or other parties involved.
Potential delays can include:
- Required documents being provided late
- Changes in income or employment
- Opening new credit or taking on new debt
- Large or unusual deposits that require additional documentation
- Appraisal issues or additional property review
- Title issues
- Outstanding underwriting conditions
- Changes to the loan or transaction
- Closing documents or figures needing correction
- A rate lock approaching expiration when additional time is needed
What Should You Avoid After Getting Pre-Approved?
Getting pre-approved is an important first step, but your financial information may be reviewed again as your loan moves through the mortgage process.
To help avoid unnecessary complications:
- Don't Open New Credit Without Talking to Your Mortgage Team: A new credit card, personal loan, or other account can change your financial profile.
- Don't Finance a Major Purchase: Buying a car or making another large financed purchase can affect your debt and available funds.
- Don't Change Jobs Without Discussing It: Changes in employment or income may require additional documentation or review.
- Don't Move Large Amounts of Money Without Documentation: Large or unusual deposits or transfers may require you to document where the funds came from.
- Don't Assume Your Pre-Approval Is Final Approval: A pre-approval is based on information available at that stage. Final approval still depends on underwriting, the property, documentation, and the selected lender's requirements.
If you're unsure whether something could affect your mortgage, ask our Lock It Mortgage loan advisors before making the change.
Frequently Asked Questions
What is the first step when buying a home?
For many buyers, the first step is getting pre-approved. This helps you understand your
potential financing options and gives you a better starting point when you begin
shopping for a home.
Do I need to get pre-approved before looking at homes?
You can look at homes without a pre-approval, but getting pre-approved before seriously
shopping can help you understand your potential buying range and make you better
prepared when you're ready to make an offer.
How long does a mortgage pre-approval last?
The timeframe can vary by lender and situation. Your pre-approval letter will generally
indicate how long it is valid and whether updated information may be required.
What happens after my offer is accepted?
Once your offer is accepted, you'll move forward with the mortgage application and loan
submission. The lender will then process and underwrite the loan while other parts of
the transaction, such as appraisal, title, and insurance, move forward.
What documents do I need for a mortgage?
Documents can vary depending on your financial situation and the selected lender. Common
items may include income documentation, employment information, bank statements,
identification, and documentation related to your assets and debts.
What is the difference between pre-approval and final loan approval?
A pre-approval is an initial assessment based on information available at that stage.
Final approval comes after the selected lender has completed its underwriting and
property review and all required conditions have been satisfied.
What is a Loan Estimate?
A Loan Estimate is a standardized disclosure that provides important information about a
mortgage you're considering, including the loan amount, interest rate, projected
payment, and estimated closing costs. For covered mortgage applications, lenders
generally provide it within three business days after receiving the required application
information.
When do I receive my Closing Disclosure?
For most covered mortgage loans, you must receive the Closing Disclosure at least three
business days before closing. This gives you time to review the final loan terms and
costs and ask questions.
What is the difference between an appraisal and a home inspection?
An appraisal is generally used by the lender to help evaluate the property's value for
the mortgage transaction. A home inspection is generally performed for the buyer to
evaluate the home's condition. They serve different purposes.
What does underwriting mean?
Underwriting is the lender's review of your financial information, documentation,
property information, and loan requirements to determine whether the loan meets its
guidelines.
How long does underwriting take?
At Lock It Mortgage, underwriting normally takes about 1–2 business days, although
actual timing varies depending on the lender, loan complexity, documentation, and
underwriting volume.
What happens if the lender asks for additional documents?
Additional documentation is a normal part of underwriting. The selected lender may need
more information to verify something or satisfy an underwriting condition. We'll help
you understand what is being requested and what documentation may be needed.
What does approved with conditions mean?
It means the lender has reviewed the loan but still needs certain requirements to be
completed before final approval. These requirements are called conditions.
What does clear to close mean?
Clear to close generally means the lender has received and approved the required
documentation and outstanding conditions have been satisfied, allowing the loan to move
toward closing.
When should I lock my mortgage rate?
The timing of a rate lock depends on your loan, expected closing timeline, lender
policies, and available rate-lock options. We'll help you understand the available
options so you can make an informed decision. Rate locks generally apply for a specified
period and can have different terms or costs depending on the lender.
Can I change jobs after getting pre-approved?
Talk with your mortgage team before making an employment change. Changes in employment
or income may require additional documentation or underwriting review.
Can I open a new credit card while buying a home?
It's best to discuss it with your mortgage team first. New credit can affect your credit
profile and debt obligations and may require additional review.
How much money do I need to bring to closing?
The amount depends on your down payment, closing costs, prepaid items, credits, deposits
already paid, and other transaction details. Your final Closing Disclosure will show
your estimated cash to close.
How long does it take to close on a house?
Once you're under contract, a typical mortgage closing may take approximately 21–45
days, although some well-prepared transactions may close sooner and others may take
longer.
What happens on closing day?
You'll review and sign the documents needed to complete your mortgage and home purchase.
The title, escrow, attorney, or settlement company typically coordinates the closing,
depending on the transaction and state.
When do I get the keys?
The timing of receiving your keys depends on the purchase contract, closing, funding,
and recording requirements. Your real estate agent and closing/settlement company can
confirm when the home is officially ready for you to take possession.
Disclaimer: This information is provided for general educational purposes only and does not constitute a commitment to lend, a guarantee of loan approval, or a guarantee of any specific loan terms or closing timeline. Mortgage programs, rates, terms, fees, and qualification requirements vary based on the borrower, property, loan program, selected lender, lender guidelines, and other factors.
Information may change without notice. Actual loan terms, requirements, costs, and closing timelines may vary. Pre-approval is not final approval. Rate-lock availability, terms, fees, and requirements vary by lender.
