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Mortgage Process Timeline
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Mortgage Process Timeline

Michael Jensen, Mortgage and Finance Guru
, Mortgage and Finance Guru

Review the interactive mortgage process timeline below to understand how long it takes to process and close your loan. The timeline covers the mortgage process from start to finish including getting prepared and organized, comparing lenders, selecting your loan program, submitting your application, lender underwriting, getting approved and closing. There are many steps involved in getting a mortgage and the process can be time consuming and overwhelming. Use our mortgage process timeline to understand how long each step takes. The time frame required to get a mortgage and buy a home typically takes six-to-ten weeks, although you may be able to close your loan faster in some cases.

The length of time required to process and close a mortgage varies depending on many factors including the following:

It is important to emphasize that when you get a mortgage you should expect the unexpected including delays and unforeseen issues.  The process almost always takes longer than anticipated so you should build a cushion into your time frame to make sure your mortgage closes when you need it to.

Scroll left to right through the mortgage timeline below to explore different parts of the process from selecting a lender, to reviewing loan documents to closing your loan.  The timeline provides an estimate for how long each step in the process takes so you can better understand how long it takes get a mortgage.  We also provide a day-by-day mortgage process schedule that provides a detailed timeline from when a home buyer's Offer to Purchase is accepted through mortgage funding.

Week 1

Get Organized

Determine What Size Mortgage
and Property You Can Afford

Check Your Credit Report

Credit Score Required for a Mortgage
creditkarma
creditcom
AnnualCreditReport.com

Weeks 2-4

Select Real Estate Agent

Find Your Dream Home

trulia
zillow

Accepted Offer to Purchase Property

Weeks 5-8

Finalize Mortgage Application

Lock Your Mortgage

Settlement Agent Opens Escrow

Settlement Agent Orders Title Report

Lender Orders Appraisal

Receive Lender Underwriting Approval

Review Closing Disclosure (CD)

3 Day Closing Disclosure Review Period

Settlement Agent Orders Loan Documents

Review & Sign Documents

Fund Mortgage

Record Mortgage Documents

Close Mortgage!

Finish Line
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Current Mortgage Rates in San Diego1, California1 as of November 24, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.

Sources

"Understanding the Timeline." My Home by Freddie Mac. Freddie Mac, 2019. Web.

About the author
Michael Jensen, Mortgage and Finance Guru

Michael is the co-founder of FREEandCLEAR. Michael possesses extensive knowledge about mortgages and finance and has been writing about mortgages for nearly a decade. His work has been featured in leading national and industry publications. More about Michael

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