Your Mortgage Timeline: What to Expect from Application to Close

Buying a home is an exciting milestone, but for many first-time buyers, the mortgage process feels overwhelming. From the initial home application to the final home closing, there are several steps that need to be completed before you get the keys to your new house.

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Understanding the timeline helps reduce stress and ensures you’re prepared at every stage. At AFC Mortgage Group, we guide Connecticut buyers through the process every day. Here’s what you can expect from start to finish.

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Step 1: Pre-Approval (Before House Hunting)

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Although not technically part of the official mortgage timeline, pre-approval is an important first step. During pre-approval, your lender reviews your credit, income, and assets to determine how much you can afford.

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Why it matters:

• It sets your budget so you don’t waste time looking at homes outside your price range.
• It strengthens your offer, showing sellers you’re a serious buyer.

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Timeline: 1–5 days depending on how quickly you provide documentation.

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Step 2: Submitting Your Home Application

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Once you’ve found the right property and your offer is accepted, it’s time to officially submit your home application for the mortgage.

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What happens next:

• You provide updated financial documents (pay stubs, bank statements, tax returns).
• Your lender pulls your credit again and verifies your information.
• You’ll receive a Loan Estimate outlining projected costs, interest rate, and fees.

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Timeline: Typically 1 week, depending on how quickly documents are submitted.

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Step 3: Home Appraisal and Inspection

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After your home application is submitted, your lender orders an appraisal to confirm the property’s value. This protects both you and the lender from overpaying. Most buyers also schedule a home inspection during this time to uncover any issues with the property.

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Why it matters:

• An appraisal ensures the loan matches the home’s market value.
• An inspection gives you the chance to negotiate repairs before home closing.

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Timeline: 1–3 weeks depending on scheduling availability.

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Step 4: Underwriting Review

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Underwriting is the most detailed part of the mortgage process. The underwriter’s job is to carefully evaluate your financial situation and the property details to confirm that you meet loan requirements.

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What underwriters look at:

• Income and employment stability
• Credit history and debts
• Savings and reserves
• Appraisal results

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Timeline: 2–4 weeks depending on the complexity of your file and responsiveness to requests for additional information.

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Step 5: Final Loan Approval

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Once underwriting is complete and all conditions are satisfied, your lender issues a “clear to close.” This means your mortgage is officially approved and you’re ready to move forward with home closing.

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Timeline: Typically 1–3 days after final conditions are met.

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Step 6: Closing Disclosure and Preparation

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At least three business days before home closing, you’ll receive the Closing Disclosure. This document outlines the final terms of your loan, including your monthly payment, interest rate, and exact closing costs.

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Why it matters:

• It gives you time to review and ask questions before signing.
• You’ll know exactly how much money to bring to closing.

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Timeline: 3 days (required by law).

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Step 7: Home Closing Day

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This is the day you’ve been waiting for! At home closing, you’ll sign the final loan documents, pay your closing costs, and officially take ownership of your new home.

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What to expect:

• Bring valid ID and any required funds (often via wire transfer or cashier’s check).
• Review and sign documents such as the mortgage note and deed of trust.
• Once everything is signed and recorded, you’ll receive the keys.

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Timeline: A few hours, but the emotional payoff lasts a lifetime!

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Typical Mortgage Timeline

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While the timeline varies, most mortgage processes in Connecticut take about 30 to 45 days from home application to home closing. Factors such as appraisal delays, missing documents, or additional underwriting requirements can extend the timeline.

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From pre-approval to home closing, the mortgage process may seem lengthy, but each step is designed to protect both you and your investment. By understanding the timeline, you’ll know what to expect, how to prepare, and how to avoid delays. Check out our blog on understanding closing costs.

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At AFC Mortgage Group, we work with Connecticut buyers to make the process as smooth as possible. Whether you’re just starting your home application or preparing for closing day, our team is here to guide you every step of the way.

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