MORTGAGE EDUCATION
MORTGAGE GUIDE DOWNLOADS
Freddie Mac Homebuyer’s Guide
Great overview of the mortgage process provided courtesy of Freddie Mac for educational purposes
Your Home Loan Toolkit – Consumer Financial Protection Bureau (CFPB)
Provided by the CFPB to help consumers navigate the mortgage process.
VA Home Loan Buyer’s Guide – U.S. Department of Veterans Affairs (VA)
provided by the U.S. Department of Veterans Affairs to assist veterans, service members, and their families in purchasing a home.
Mortgage Disclosure Checklist
California specific
Guide to Home Equity Lines of Credit (HELOC) by CFPB
Provided by the CFPB to help consumers navigate the HELOC Process
FHA Homebuyers Guide (2023 version)
***After 2023, they stopped making pdf guides and just publish the info on the website but the pdf is still more concise. (NOTE: see current year FHA Loan Limits on my RATES page)!!
Uniform Residential Loan Application aka URLA 1003
The paper version of what will be asked from you digitally.
TYPICAL MORTGAGE TIMELINE
✅ Day 1–2: Apply for Your Mortgage
• Complete your loan application. • Submit required documents (ID, income proof, bank statements, tax returns). • Review and sign initial disclosures. • Credit report is pulled.
01/02/2025✅ Day 3–5: Initial Underwriting Review
• Processor reviews your application. • File is submitted to underwriting. • Conditional loan approval is issued.
01/06/2025✅ Day 5–7: Home Inspection
(Optional but Recommended) • Schedule a home inspection. • Negotiate repairs if needed.
01/08/2025✅ Day 8–10: Appraisal and Title Ordered
• Appraisal inspection scheduled. • Title search initiated. • Shop for homeowners insurance.
01/10/2025✅ Day 11–15: Insurance and Appraisal Finalized
• Appraisal report completed. • Finalize homeowners insurance and submit proof to your lender
01/15/2025✅ Day 16–18: Submit Additional Documents
• Respond quickly to any underwriter conditions. • Processor works to clear outstanding items.
01/20/2025✅ Day 19–21: Final Underwriting and Clear to Close
• Final review by underwriter. • Loan status updated to "Clear to Close."
01/22/2025✅ Day 22–24: Review Closing Disclosure (CD)
• Receive your Closing Disclosure. • Review all final numbers. • Arrange wire transfer or certified funds.
01/23/2025✅ Day 25–29: Final Walk-Through
• Inspect the property to confirm it's in the agreed-upon condition.
01/29/2025✅ Day 30: Closing Day! 🎉
• Sign final loan and title documents. • Pay any remaining closing costs. • Receive your keys and celebrate!
01/31/2025