The document outlines the 6 steps of the mortgage process: 1) Application where borrowers fill out paperwork and ask questions, 2) Processing where the application is submitted, 3) Underwriting where an underwriter reviews the file, 4) Conditions where additional information may be requested, 5) Clearing conditions by providing requested information, and 6) Closing where the loan is finalized once all conditions are met.

1. Mortgages

5. Step 2-The Application

6. Step 2-The Application
This is the meeting with your mortgage professional.
This is when you will put the signature on the paperwork and sign the mortgage application ver
When you receive the papers to have the meeting this is the BEST time to ASK Questions!
Make sure you give all the information needed on the phone to fill out the application so that th

7. Step 3- Processing

8. Step 3- Processing
e it paints an accurate picture of your financial situation and its also the internal step of submitting you

9. Step 4-Underwriting

10. Step 4- Underwriting
n the underwriter looks at a picture your mortgage banker has painted and decides whether or not thi
The Underwriter makes the decision if your mortgage is approved or not.

12. Step5-Clearing Conditions
Are Request made by the underwriter for additional
information which may include not limited to
Verification of Employment
Clearing up past collection accounts
Once all conditions are cleared a “clear to close”
will be issued by the bank or lender.

13. Step6-Closing