Breaking Down The Mortgage Process: From Application To Keys
Buying a home is one of life’s biggest milestones—and one of the largest financial decisions you’ll ever make. Whether it’s your first home or your fifth, the mortgage process can seem complicated at first glance. The good news? With the right guidance and preparation, it’s a lot more straightforward than you might think.
At Continental Mortgage, we help our clients move from application to keys with clarity and confidence. Here’s a step-by-step breakdown of how the process works.
1. Step One: Pre-Approval
Before you start house hunting, it’s important to know what you can afford. A mortgage pre-approval helps you understand your price range, estimated payments, and what lenders are willing to offer based on your income, credit, and down payment.
Getting pre-approved also strengthens your offer when you find the right home—it shows sellers you’re serious and financially ready.
2. Step Two: The Mortgage Application
Once you’ve found the home you love, your mortgage broker will update your pre-approval and begin your full application. This includes verifying your income, reviewing your credit, confirming your down payment source, and submitting all necessary documentation to your chosen lender.
Working with an experienced broker ensures your application is complete and accurate, minimizing delays and increasing your chance of approval.
3. Step Three: Lender Review & Approval
After your broker submits your file, the lender’s underwriting team reviews your application to confirm you meet their requirements. They’ll also order an appraisal to confirm the property’s value matches the purchase price.
If everything checks out, you’ll receive a mortgage commitment—a formal approval outlining your rate, term, and conditions that need to be met before final funding.
4. Step Four: Fulfilling Conditions
Conditions often include providing updated documents, proof of insurance, or confirmation of the final property appraisal. Your broker will help you gather and submit everything the lender needs. Once all conditions are satisfied, your mortgage becomes fully approved and ready for closing.
5. Step Five: Closing Day
On closing day, your lawyer finalizes the transaction, transfers the funds, and registers the mortgage. You’ll receive your keys—and officially become a homeowner!
Even after closing, your broker remains a long-term partner, ready to assist with renewals, refinancing, or new opportunities in the future.
The mortgage process doesn’t have to be confusing or stressful. With the right guidance, you can move from application to approval smoothly—and celebrate your new home with peace of mind.
At Continental Mortgage, we guide you every step of the way. From comparing lenders to negotiating terms, we make sure your mortgage works for you, both today and for years to come.
