From pre-qual to keys

The loan process

A plain-language walk through typical purchase milestones. Timelines vary by file, property, and underwriting — nothing here is a guarantee or a commitment to lend.

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Informational only. This overview does not advertise rates, APRs, payments, or other Regulation Z trigger terms. Final approval depends on a complete application, verification, underwriting, and property appraisal.

1. Pre-qualification

Share basic income, credit, and goals so we can estimate what you may qualify for. Useful before you shop. Not a commitment to lend.

2. Application

Complete a formal application (often online via NEXA’s secure portal) and authorize credit. You’ll receive required disclosures.

3. Processing

A processor gathers and organizes documents, orders needed items, and prepares the file for underwriting.

4. Appraisal

An independent appraisal is typically ordered to help establish the property’s market value for the loan.

5. Underwriting

An underwriter reviews credit, income, assets, and property. Conditions may be issued until the file is ready.

6. Clear to close

When conditions are satisfied, the loan can be cleared to close and final figures are prepared for signing.

7. Closing

You sign closing documents, funds are disbursed per instructions, and ownership/title transfers per local practice.

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