The Mortgage Process
Whether you're a first-time buyer or a seasoned homeowner, understanding the mortgage process is key to feeling confident, prepared, and in control. At The McDaniel Mortgage Group, we break down the process into six simple, guided steps — and walk beside you through every one of them.
Step 1: Pre-Qualification
We start by reviewing your application and credit to estimate your purchasing power. This gives us a clear picture of your financial readiness and what price range to target.
Tip: Submit your documentation early — we can’t pre-qualify without it.
Step 2: Pre-Approval
Once we've reviewed your documents, you'll receive your official Pre-Approval Letter. This letter strengthens your offers when house hunting and lets sellers know you're a serious, ready-to-act buyer.
Happy shopping!
Step 3: Under Contract
Found the one? Once your offer is accepted, the file goes back into processing. We'll work behind the scenes — and directly with you — to keep everything on track and moving forward.
Step 4: Conditional (Initial) Approval
Your loan is reviewed by underwriting, and a list of follow-up items (called “conditions”) may be issued. Don’t worry — nearly every file has a few. These are typically simple documents or verifications that we’ll help you collect quickly.
Step 5: Appraisal
After inspections are complete and you're ready to proceed, we'll order the appraisal to confirm the home's value. Once received, the file is submitted back to underwriting for final review.
Step 6: Clear to Close
You’re almost there! Once final approval is granted, you’ll be cleared to close. We’ll help coordinate the closing, explain your documents, and prepare you for signing day. Time to schedule and get your keys.
You’re Never Alone in the Process
We know this can feel like a lot — that’s why our team is dedicated to making every step feel clear, manageable, and stress-free. Whether you have a quick question or need help troubleshooting a delay, we’re always just a call or text away.
