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GuideFrom the first conversation to keys in hand, a typical purchase mortgage runs through about seven steps and often closes in 30 to 45 days. Here is exactly what happens at each stage, what you will need, and how to keep it smooth.
By Mindy Hay, Senior Loan Officer · NMLS #292224 · Updated September 2026
Before you shop, get a full pre-approval. Mindy verifies your credit, income, and assets so you know your true budget, and a pre-approval letter makes your offer stronger. This is more reliable than a quick pre-qualification. Read more in our first-time buyer guide.
With your budget set, you shop with confidence and make an offer. Once a seller accepts and you have a signed purchase agreement, the clock on your loan begins.
You complete the full loan application and receive your initial disclosures, including a Loan Estimate that lays out your rate, payment, and estimated closing costs so there are no surprises.
Your file goes to processing, where your documents are gathered and verified, the home appraisal is ordered, and title work begins. This is where prompt responses to document requests really speed things up.
An underwriter reviews the whole file to confirm your income, assets, credit, and the property all meet the loan guidelines. They may ask for a few final items, which is normal.
Once you satisfy any remaining conditions, your loan moves to clear to close. That means everything is approved and you are ready to sign.
You review and sign the final documents, funds are disbursed, and the home is officially yours. Congratulations, you get the keys.
Respond to requests quickly, avoid opening new credit or making big purchases during the process, and keep your income and accounts steady. Mindy communicates at every step so you always know what is next.
Mindy Hay is a senior loan officer with Union Home Mortgage, based in Tigard and serving the greater Portland metro, Southwest Washington, and Arizona.
A purchase mortgage often closes in about 30 to 45 days from a signed contract, depending on the loan and how fast documents come together.
Pre-qualification is a quick estimate; pre-approval is verified and stronger. Mindy recommends a full pre-approval before you shop.
Commonly pay stubs, W-2s or tax returns, bank statements, and ID. Self-employed buyers may use bank statements instead of tax returns. Mindy gives you a personalized checklist.
It means underwriting approved your loan and all conditions are met, so you are ready to sign and complete the purchase.
Know your budget and shop with confidence.