Your Home Loan Timeline: From Yes to Closing

If you’re wondering how long it really takes to go from preapproval to closing, you’re not alone.
 Most people hear horror stories of delays, surprises, or last-minute chaos — but it doesn’t have to be that way.

At Stairway Mortgage, we run a tight, transparent process. Here’s your step-by-step timeline and what to expect at every stage.

Step 1: Preapproval (Day 0–2)

Once you complete your application and upload your docs, we typically issue a preapproval within 24–48 hours.

What you get:
 • Your official preapproval letter
 • Purchase power range
 • Customized loan options
 • Rate discussion & lock strategy

Step 2: House Hunting + Offer (Days 2–30+)

Once you’re preapproved, it’s time to start shopping. This phase can last anywhere from a few days to several months depending on your market and readiness.

We stay in touch throughout:
 • Updating your preapproval if needed
 • Running payment scenarios on homes you like
 • Helping your agent position a strong offer

Once your offer is accepted, we move immediately to…

Step 3: Processing + Appraisal (Day 1–7 Post-Offer)

• We lock your rate (if not already done)
 • Order your appraisal
 • Disclose all loan terms to you (compliance docs)
 • Begin assembling your final file for underwriting

Step 4: Underwriting + Conditions (Days 8–18)

Once we submit your file, the underwriter typically responds within 24–72 hours with approval and a short list of conditions (like updated pay stubs or letters of explanation).

You’ll work with our processing team to gather these items fast — we guide you every step of the way.

Step 5: Clear to Close (Days 18–25)

After all conditions are met and verified, your loan gets the coveted “Clear to Close.”

We schedule your closing date, send final figures to the title company, and help you review your Closing Disclosure before signing day.

Step 6: Closing Day (Day 25–30)

You’ll meet at the title office (or remote close, if available), sign your final paperwork, wire your funds, and… get your keys!

Our job doesn’t stop there — we stay in touch to help you:
 • Prepare for homestead exemption and tax benefits
 • Track the market for refinance opportunities
 • Navigate future moves or investments

Ready to Take Your First Step?

Skip the guesswork. Take our quick Discovery Quiz to uncover your top financial priorities, so we can guide you toward the wealth-building strategies that fit your life.

  • Takes just 5 minutes
  • Tailored results based on your answers
  • No credit check required
Take the Discovery Quiz

Need a Pre-Approval Letter—Fast?

Buying a home soon? Complete our short form and we’ll connect you with the best loan options for your target property and financial situation—fast.

  • Only 2 minutes to complete
  • Quick turnaround on pre-approval
  • No credit score impact
Get Pre-Approved Now

Got a Few Questions First?

Let’s talk it through. Book a call and one of our friendly advisors will be in touch to guide you personally.

Schedule a Call

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Need help? Call our 5 Star Client Service Team at (954) 993-1625 We look forward to helping you climb!

Corporate Contact Info
Stairway Mortgage, A Division of NEXA Mortgage LLC
NMLS # 1660690 | AZMB – 0944059
5559 S Sossaman Rd, Bldg #1 Ste #101
Mesa, AZ 85212
(602) 344-9333

State of Illinois
Illinois Department of Financial and Professional Regulation (IDFPR)
555 West Monroe Street
Suite 500 Chicago, IL 60661
(888) 473-4858
www.idfpr.illinois.gov

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