Step 1: Prequalification
Step 2: Application
Step 3: Processing
Step 4: Underwriting
Step 5: Closing
Prequalify Online

Step 2: Application

2.

The "application" is actually the beginning of the loan process and usually occurs after you have found a property you want to buy or have determined that you wish to refinance the loan on your existing home. You complete a mortgage application for a particular loan program and supply all of the required documentation for processing. Various fees and down payment options are discussed at this time and the loan officer will deliver a Good Faith Estimate (GFE) and a Truth-In-Lending Disclosure (TIL) within three days that itemize the rates and estimated costs for obtaining the loan.