Stage 3 of 6

Financing & Appraisal

If you're using a loan to purchase the home, this is when your lender begins underwriting, reviewing your finances, and ordering the appraisal.

What typically happens

Loan application submitted
Appraisal ordered
Underwriting review
Conditions cleared
Final loan approval issued

Related terms

Closing Disclosure

The final 5-page document showing your loan terms, monthly payment, and all closing costs. You must receive it at least 3 business days before closing.