Typical Timeline: 30-45 Days
Get Pre-Approved
Before you start shopping, know what you can afford.
What You'll Need:
- Photo ID (driver's license or passport)
- Social Security number
- Past 2 years of W-2s and tax returns
- Recent pay stubs (past 30 days)
- Bank statements (past 2-3 months)
Pro Tip: Pre-approval is different from pre-qualification. Pre-approval involves verification of your finances and carries more weight with sellers.
Find Your Home
Work with your agent to find the right property.
Your Agent Will Help You:
- Search within your budget
- Schedule showings
- Write competitive offers
- Negotiate on your behalf
Stay Within Budget:
Your pre-approval amount is the maximum. Consider leaving room for unexpected costs, furniture, and repairs. A good rule: aim for a monthly payment under 28% of your gross income.
Make an Offer & Go Under Contract
When you find the one, it's time to make it official.
Your Offer Includes:
- Purchase price – what you're willing to pay
- Earnest money – typically 1-3% of purchase price
- Contingencies – inspection, financing, appraisal
- Closing date – usually 30-45 days out
Once the seller accepts, you're "under contract" and the clock starts ticking.
Home Inspection
Protect yourself by knowing what you're buying.
A licensed inspector examines the home's major systems: roof, foundation, HVAC, plumbing, electrical, and more. Cost is typically $300-500.
After the Inspection, You Can:
- • Accept the property as-is
- • Ask the seller to make repairs
- • Ask for a price reduction or credit
- • Walk away (if issues are too significant)
Loan Processing & Underwriting
The lender verifies everything and prepares your loan.
During This Phase:
- Lender orders appraisal (required to confirm home's value)
- Underwriter reviews all documentation
- May request additional documents (respond quickly!)
- Title company performs title search
Critical: What NOT to Do
- • Don't change jobs or quit
- • Don't make large purchases (cars, furniture)
- • Don't open or close credit accounts
- • Don't move money around unexplained
Clear to Close
The final approval before the big day.
Once underwriting is complete and all conditions are met, you'll receive "clear to close" status. This means your loan is fully approved.
Before Closing:
- • Review your Closing Disclosure (CD) – sent 3 days before closing
- • Compare it to your Loan Estimate
- • Arrange wire transfer or cashier's check for closing funds
- • Schedule your final walk-through
Closing Day!
Sign the papers and get your keys.
You Made It!
Time to sign, hand over the funds, and get your keys.
What to Bring:
- • Photo ID
- • Certified/cashier's check or wire confirmation
- • Patience (there's a lot of paperwork!)
Understanding Closing Costs
Expect to pay 2-5% of the purchase price in closing costs. Here's a typical breakdown:
Tip: You can negotiate with the seller to pay some or all of your closing costs, especially in a buyer's market.
Ready to Get Started?
Take our quick qualification assessment to see where you stand, or explore our payment calculator.