The Mortgage Application Process Explained: What Actually Happens From First Step to Closing
The mortgage application process moves through six core stages — rate comparison, preapproval, formal application, underwriting, appraisal, and closing — typically spanning 30 to 60 days. This guide breaks down what happens at each stage, who is responsible, and why comparing multiple lenders before you apply is the single most impactful step a borrower can take.