The Mortgaging Process Step by Step

The process of securing a mortgage for your new home is not as intimidating as it may seem. Though there are many things that happen behind the scenes, there is no reason to fear the mortgaging process. Here is a step by step guide to what happens on the way to buying your dream home:

1. Pre-approval

Get pre-approved before you even begin shopping for houses. As we have mentioned before, it is important to understand the difference between being pre-qualified and pre-approved. To get pre-approved for a mortgage, your loan officer will need to look at your financial history and credit rating in detail. Pre-approval will give you a solid idea of your price range and interest rate and will also let sellers know that you are more serious about buying. Now that you are pre-approved, you can…

2. Find Your Dream Home

After you have been pre-approved, research the housing market and local realtors and find what best suits your needs. We can recommend a realtor if you would like. Be sure to consider the price at which other houses in the local market have recently been sold, local schools and places of worship, and general trends in the market. After you make you make an offer and the buyer (hopefully!) accepts, it’s time to…

3. Arrange an Inspection

Your real estate agent should be able to recommend a certified home inspector to look over the property and alert you of any repairs or replacements that need to be made on the property. Make sure you are present during the inspection! If there are any issues with the property after the inspection, address them with your agent and the seller. Once you have completed the inspection, your loan officer will arrange for an…

4. Appraisal

A licensed appraiser will be sent to the property you intend to buy and calculate the value of your home based on many different criteria. This amount is then reported to the lenders, who will lend you the lower of either the purchase price or the appraised value.

5. Final Loan Approval and Closing

After the value of the property is appraised, the lender will underwrite the loan and order loan documents if you qualify. Your loan officer will finish the paperwork and you will be ready for signing! On signing day you will sign the final loan and closing documents and be the official owner of your new home!


Keystone Mortgage provides Tennesseans with the best mortgage experience, period. So what are you waiting for? Apply here now. Call us today at 865-909-0211 to see how we can provide you with a great mortgage experience!

It's easy to get started!

Knoxville TN Office
1508 Coleman Road
Knoxville, Tennessee 37909
Sarasota FL Office
1400 Peregrine Point Drive
Sarasota FL 34231
Phone: 865-909-0211
Fax: 865-909-0178
Privacy Policy
© 2023 - Keystone Mortgage, Knoxville Tennessee. All Rights Reserved.

Site Credit // South Made

Skip to content