How to Obtain a Mortgage : How Mortgage Loan Is Processed


Most lenders will start the majority of mortgage
loan processing once a Purchase Contract is submitted. The Purchase Contract is also known
as the “Offer To Purchase”. The most important role that a borrower can play in loan processing
is to be attentive and responsive to the lender. If the lender is not calling, it may be important
that the borrower just touch base with them on a weekly basis to see what the loan status
is and to kind of see what the direction of the loan is, is there documentation needed.
Documentation not being provided is the number one reason that a loan will not close as scheduled.
It’s important to be available by phone or email most everyday of the loan process. Typically
a loan process takes thirty days and can include appraisals, underwriting, and review of the
loan documentation.

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