Guide · Process · 2 min read
From Offer to Keys
The stretch of time after a seller accepts your offer, and why it rarely moves in a straight line.
The clock most people feel starts when the seller accepts the offer. A purchase often takes about a month to six weeks from there. It can be faster, and extra questions can make it longer.
The checks the home's value. checks who owns it and whether old debts are attached to it. reads the documents and may ask for more. None of those steps is optional just because you are in a hurry.
You will see a closing disclosure before you sign. Read the cash due and the monthly payment. Ask what each fee is for. is the day you sign, pay what is due, and get the keys if the file is clear.
A holds an interest rate for a set number of days. If the file runs past that window, the rate conversation can reopen. A lock is not an approval.
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After the Seller Says Yes
That month-to-six-week range is common. It is not a promise. Extra questions, a low appraisal, or a title issue can make it longer.
The appraisal is an opinion of value ordered for the lender. If it comes in below the price, you, the seller, and the loan officer have to decide what changes. The title search looks for owners and for old claims on the property. Underwriting reads the file and may ask for one more document. None of those steps drops out because a moving date is close.
You will see a Closing Disclosure before you sign. Compare it with the Loan Estimate. Ask about any fee that grew. Closing day is when you sign, pay the cash that is due, and receive the keys if the file is clear.
A rate lock holds an interest rate for a set number of days. If the file runs past that window, the rate conversation can reopen. A lock is not an approval, and it is not a closing date.
Keep Reading
Process
Document Checklist
From getting your money ready to picking up the keys. Check off each step as you go.
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How Pre-Approval Works
What a pre-approval looks at, and what it does not promise.
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Why a Loan Officer Lists Licensed States
A license lets that person take a mortgage application in a state. It is not the same as the company's list of states.
A Real Conversation
Ready When You Are.
Talk with a loan officer who is licensed where the home is. Walk through buying, refinancing, or a loan that does not fit a standard file. Start with the directory, or answer a few questions first.