Step 1
Pre-approval
I review your income, assets and credit and issue a pre-approval for a price range and loan type.
What you provide
- ID, pay stubs, W-2s or tax returns, bank statements
- Permission to pull credit
- Any gift or assistance plans
What the agent should do
- Ask for the pre-approval letter and the loan type before showings
- Ask whether condos are in range and which loan types the buyer can use
Step 2
House hunting
You shop within your range. Avoid new debt or large unexplained deposits.
What you provide
- Updated statements if anything changes
- Questions about HOA dues, taxes and insurance
What the agent should do
- Send me listings with HOA dues and building names for condos
- Check FHA/VA condo approval early (Condo Hub)
Step 3
Offer and contract
You sign a contract with your financing, inspection and appraisal terms. Your deposit goes to escrow.
What you provide
- Signed contract
- Escrow deposit receipt
What the agent should do
- Send me the fully executed contract right away
- Confirm financing and appraisal contingency dates match a realistic timeline
Step 4
Application and Loan Estimate
You complete the full application. The lender must send your Loan Estimate within three business days of receiving it. Source: CFPB, What is a Loan Estimate?
What you provide
- Completed application
- Intent to proceed after reviewing the Loan Estimate
What the agent should do
- Remind the buyer to read the Loan Estimate and say “go”
- Ask me for a status update after the Loan Estimate goes out
Step 5
Processing
The processor orders verifications and collects any missing documents.
What you provide
- Requested documents, quickly and complete
- Letters of explanation if asked
What the agent should do
- Keep the buyer responsive
- Flag any contract changes to me
Step 6
Appraisal
An appraiser values the home for the lender.
What you provide
- Appraisal fee, if collected upfront
- Access to the property
What the agent should do
- Provide comps and access
- Tell me right away if the seller is making repairs
Step 7
Condo review (if a condo)
The lender reviews the building: budget, insurance, questionnaire, and in Florida the milestone inspection and SIRS status for 3+ story buildings.
What you provide
- Any association documents you receive
- Questionnaire fee, if charged
What the agent should do
- Ask the listing agent for the association contact and documents on day one
- Run the Condo Clearance Check
Step 8
Underwriting
The underwriter reviews the whole file and issues an approval with any conditions.
What you provide
- Items to clear conditions
- No new credit or job changes without talking to me
What the agent should do
- Watch the financing contingency date
- Ask me what conditions are left
Step 9
Clear to close
All conditions are cleared and the loan is ready for closing documents.
What you provide
- Confirm the closing date and funds to close
- Homeowner’s (HO-6 for condos) and any flood insurance in place
What the agent should do
- Coordinate the closing time and walk-through
- Confirm the title company has everything
Step 10
Closing Disclosure
You must receive your Closing Disclosure at least three business days before closing. Certain changes (an APR that becomes inaccurate, a different loan product, or an added prepayment penalty) start a new three-day wait. Source: CFPB, When do I get a Closing Disclosure?
What you provide
- Review and acknowledge the Closing Disclosure
- Compare it with your Loan Estimate
What the agent should do
- Don’t schedule closing before the three-business-day window
- Avoid last-minute changes to price or credits
Step 11
Closing
You sign the loan and title documents and get the keys once the loan funds.
What you provide
- Photo ID
- Cashier’s check or wire for funds to close (verify wire instructions by phone)
What the agent should do
- Remind the buyer about wire fraud: verify instructions by phone
- Celebrate
Step 12
After closing
Your servicer sends your first payment details. In Florida, file for the homestead exemption by March 1 if it’s your primary home.
What you provide
- Set up payments
- Homestead exemption filing
What the agent should do
- Remind clients about the homestead deadline
- Stay in touch for referrals and reviews