The Mortgage Process,
Step by Step

The mortgage process starts with a pre-approval. You submit a loan application and provide supporting documents — pay stubs, bank statements, tax returns, and identification. We review your credit, income, and assets to determine how much you can borrow and at what rate. Within 24 to 48 hours, you receive a pre-approval letter that shows sellers you are a serious, qualified buyer. Pre-approval gives you a clear budget and a significant advantage when making an offer in a competitive Montana market.

With your pre-approval letter in hand, you work with a real estate agent to find the right property. Attend showings, tour neighborhoods, and evaluate homes within your approved price range. When you find the right home, your agent helps you make a competitive offer. Your pre-approval letter strengthens your position because the seller knows your financing is already in process. Once your offer is accepted and you are under contract, the formal loan process begins with a target closing date typically 30 to 45 days out.

Once you are under contract, your loan file moves to processing. Our team orders the home appraisal to confirm the property value supports the loan amount. We verify your employment, income, and assets, and collect any additional documents needed to build a complete file. The title company conducts a title search to ensure the property has a clear title. During this phase, you may receive requests for updated bank statements, explanations for large deposits, or other documentation — responding quickly keeps the timeline on track.

The underwriter reviews your complete loan file — credit history, income documentation, appraisal, title work, and all supporting materials — to make a final lending decision. The underwriter may issue conditions, which are additional items or clarifications needed before final approval. Common conditions include updated pay stubs, proof of insurance, or letters explaining credit inquiries. We manage this process on your behalf, communicating with the underwriter and guiding you through any requests to keep everything moving toward approval.

When the underwriter grants final approval, you receive a "clear to close" — the green light that your loan is fully approved and ready to fund. At this point, the lender issues the Closing Disclosure (CD), a detailed document that outlines your final loan terms, monthly payment, interest rate, closing costs, and cash needed at closing. Federal law requires you to receive the CD at least three business days before closing so you have time to review the numbers and ask any questions. This is your opportunity to confirm everything matches your expectations.

On closing day, you meet at the title company or attorney office to sign the final loan documents, including the promissory note and deed of trust. You bring a cashier's check or wire your remaining closing costs and down payment. Once all documents are signed and the loan is funded, you receive the keys to your new home. The entire signing typically takes one to two hours. After closing, your loan is transferred to a servicer who will handle your monthly payments going forward. Congratulations — you are a homeowner.