Completion of the loan process can generally take anywhere from 7 to 60 days depending on the circumstances, timeline provided is based on a 30-day closing date from the date of the contract

• Pre-Approval (pre-contract) is an important first step before you should start looking for properties, so you know your price range.  In a event of a multiple offer situation, a letter of pre-approval may carry weight with the seller.
  
• Loan Application/Interview (pre-Contract-5days)
  
  a. Buyer should bring:
       i.   Sales Contact- if the application is post-contract (In this case the buyer would have noted on te LSR that they had not yet met in person with the lender)
       II.  Recent pay stub
       III. Bank Statement
       IV. Any other requested documents (lender will order copy of credit report)
  b. Select mortgage type
  c. Good-Faith Estimate of closing costs (provided within 3 business days of the application) - provides the buyer with a list of estimated closing costs, brokers and lenders are required by law to be as accurate as possible
  d. Buyer's Net Sheet - estimated funds to be paid at closing added to the purchase price to sho the total cost to the buyer of purchasing the property
  
• Flood Certification - usually done as soon as the contract is recorded to determine whether the property is in a flood-prone location
  
• Appraisal (3-14 days) - this is delivered directly to the lender, although the buyer may request a copy (or request that one be forwarded to the insurance company providing the homewoner's policy
  
• Inspection (3-14 days) - termite inspections are required on government loans - i.e. VA, FHA - and sub-prime loans but only on other loans if specified in the contract
  
• Underwriting (14 - 25 days)
  
• Title Search and title insurance (15 - 27 days) - the title compnay will perform a search to ensure the property is free of encumbrances
  
• Survey (5 - 25 days) usually only in rural areas
  
• Mortgage Insurance and Underwriting (15 - 27 days) - mortgage insurance is commonly required when the buyer's down payment is less than 20% of the purchase price
  
• Final Information Verification (4 - 5 days prior to closing ) - the lender will make a final review t confirm all documentation requiredments have been met and the loan is ready to close
  
• Drawing Documents -  all documents relat to the closing are ordered and sent to the title company
  
• Closing & Fund - all loan documents must be signed 3 days prior to close of escrow.  At close of escrow, funds are distibuted and keys change hands.