Twelve steps from application to keys, so nothing feels like a surprise.
Buying a home involves a lot of moving parts. This one-page guide shows the whole path, from loan application and pre-approval through home search, offer, appraisal, underwriting, and closing.
The 12 Steps
1. Loan Application
Complete your application. Review the document checklist and upload any requested documents. Then meet with your loan officer to review everything together.
2. Pre-Approval or Pre-Qualification*
Congratulations! With your pre-approval in hand, you can move forward with confidence when making offers.
3. Home Search
Work with your real estate agent to find the right home within your budget, then make your offer.
4. Purchase Price Negotiation
The price and other details are negotiated. Once both parties agree to a deal, a copy of the contract is sent to us.
5. Earnest Money Deposit
Once your contract is accepted, you provide an initial deposit to secure the purchase.
6. Disclosures
You receive an initial loan estimate, along with federal and state disclosures.
7. Appraisal
The appraisal is completed after all documents are signed and returned.
8. Underwriting
An underwriter reviews your loan application and supporting documents, including the appraisal, to determine if any additional information is needed.
9. Final Loan Approval
Once all information is received, reviewed, and approved, the underwriter issues a final approval.
10. Closing Documents
Closing documents are sent to the title company.
11. Final Closing Disclosure
We provide your final Closing Disclosure, including the total amount due at closing. Be sure to confirm your payment method with the title company.
12. Closing
Sign your closing documents either digitally or at your scheduled location. Bring your funds to close and a valid photo ID.
The loan is funded. You are now a homeowner!
*Pre-approval is based on a preliminary review of credit information provided to Fairway Independent Mortgage Corporation, which has not been reviewed by underwriting. If you have submitted verifying documentation, you have done so voluntarily. Final loan approval is subject to a full underwriting review of support documentation including, but not limited to, applicants' creditworthiness, assets, income information, and a satisfactory appraisal.
Ready to start your road home?
I will walk you through every step.
Ruthie Crawford
Licensed Mortgage Loan Originator, Fairway Independent Mortgage
NMLS #2759858
503-250-4247 | ruthie.crawford@fairwaymc.com
Serving clients in Oregon, Washington, and Arizona
