How It Works
How the mortgage process works
Five clear steps from pre-approval to closing day. Here is what happens, what we need from you and how to avoid the most common delays.
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At a glance
- 1. Pre-approval
- 2. House hunting & contract
- 3. Processing & underwriting
- 4. Conditional approval
- 5. Clear to close & closing day
Talk with a licensed loan officer
Five steps to your keys
From pre-approval to closing day
Buying a home has a lot of moving parts, but the path is easier when you know what comes next. Here is how a typical purchase loan moves with FLO Mortgage, what we will ask for at each step and the mistakes to avoid along the way.
Phase 1: Pre-Approval
Getting loan-ready
We review your income, assets and credit to see what you may qualify for. You shop with a clear budget and a letter that shows sellers you are serious.
What we need- Recent pay stubs and W-2s (or tax returns if you are self-employed)
- Bank statements for the last two months
- Permission to check your credit
⚠️ Pro-tipHold off on new credit cards, car loans or big purchases. New debt can change what you qualify for.Phase 2: House Hunting & Contract
The match
You find the home, and your agent helps you make an offer. Once the seller accepts, you are under contract and the clock starts.
What we need- A copy of the signed purchase contract
- Your homeowners insurance agent's contact info
⚠️ Pro-tipTalk to us before you sign. Contract dates and contingencies can affect your loan.Phase 3: Processing & Underwriting
The deep dive
Your file goes to an underwriter, who reviews every detail. The appraisal is ordered to confirm the home's value.
What we need- Quick answers to any document requests
- Updated statements or pay stubs if time passes
⚠️ Pro-tipDon't move money between accounts or make large deposits without a paper trail. Underwriters may ask you to explain them.Phase 4: Conditional Approval
The home stretch
The underwriter has approved your loan with a few final conditions. It is a big milestone, and you are almost there.
What we need- Any remaining items on the conditions list
- A final check that your job and income haven't changed
⚠️ Pro-tipAvoid changing jobs or making big purchases until after closing. Your lender may verify things one last time.Phase 5: Clear to Close & Closing Day
The finish line
All conditions are met and your loan is cleared to close. You review your Closing Disclosure, sign your documents and get your keys.
What we need- A valid photo ID for closing day
- Your cash to close, sent as instructed by your title company
⚠️ Pro-tipWatch out for wire fraud. Always call your title company at a number you already know before sending money. Never trust emailed wiring instructions alone.
FAQ
Mortgage process questions, answered
How long does the mortgage process take?
Many purchase loans close in about 30 to 45 days after a contract is signed, but every loan is different. Your timeline depends on the loan program, the appraisal, how quickly documents come in and the closing date in your contract.
What is the difference between pre-qualification and pre-approval?
A pre-qualification is a quick estimate based on what you tell us. A pre-approval goes further: we review your credit and documents such as pay stubs and bank statements, so your budget and letter carry more weight with sellers.
What can delay closing?
Common delays include missing documents, a low appraisal, title issues, new debt or a job change during the process, and large deposits that need to be explained. Staying in touch and answering requests quickly helps keep things on track.
Can I start house hunting before I'm pre-approved?
You can look, but getting pre-approved first is the smarter move. You'll know your budget, and many sellers and agents expect a pre-approval letter before they consider an offer.
What happens on closing day?
You meet with the title or closing agent, review and sign your loan and closing documents, and confirm your cash to close has arrived. Once everything is signed and funded, you get your keys.
Every loan is different, and timelines can vary. This is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, property eligibility and program availability. Not all applicants will qualify. FLO Mortgage is licensed in Florida, Georgia, Michigan, North Carolina, Tennessee and Texas. Company NMLS #1835856. Equal Housing Opportunity. Licensing & Disclosures.
Local, licensed help
Talk your home loan through with a FLO loan officer
Every FLO Mortgage loan officer can walk you through this program, run the numbers for your situation and compare it with your other options. Have questions? Call our main office at (386) 882-9980.
Ready to see your numbers?
Answer a few quick questions and a local loan officer will follow up with your options.