The Mortgage Process in Texas
A Mortgage Doesn’t Have to Be Complicated.
From your first conversation to the day you get your keys, we walk you through every step.
What to Expect When You Work With Us.
Buying a home is one of the biggest financial decisions most people make. The mortgage process has a reputation for being confusing and stressful, but it doesn’t have to be. When you work with Linda and Chris at Love & Love Mortgage, you get two experienced, licensed loan originators who know this process inside and out and who make it a priority to keep you informed at every stage.
The home loan process in Texas typically takes 30 to 45 days from the time you go under contract. That timeline can feel fast, which is why we start preparing early and stay in close contact from beginning to end.
How the Texas Mortgage Process Works
A Process Built to Work For YOU.
Whether you’re a first-time buyer or you’ve done this before, it helps to know what’s coming. Here’s a step-by-step look at how we’ll move through the process together.
Pre-Qualification
Before you start shopping for a home, get pre-qualified. This is a free, no-obligation consultation where we review your income, credit, savings, and financial goals to identify which loan programs you may qualify for and what purchase price range makes sense. You’ll leave with a clear picture of where you stand.
Shopping for a Home
Once you have been pre-qualified, you’re ready to shop. Your REALTOR will know you’re a serious buyer, and sellers will take your offers more seriously too. We stay available during this phase to answer questions as they come up.
Loan Application
When you find a home and go under contract, we open your formal loan application. You’ll submit documentation such as pay stubs, tax returns, bank statements, and a valid ID. We’ll tell you exactly what’s needed and guide you through gathering it.
Loan Processing and Underwriting
Once your application is submitted, your file moves into processing and then underwriting. This is where your financial details are verified and your loan is evaluated for approval. We stay actively involved during this phase, responding to any conditions the underwriter requests to avoid delays.
Appraisal
The lender requires an independent appraisal to confirm the home’s market value. The appraiser inspects the property and submits a report. If the value comes in at or above the purchase price, you can move forward.
Clear to Close
When underwriting is complete and all conditions are satisfied, you receive a “clear to close.” This means final approval has been granted. We’ll walk you through your closing disclosure, which outlines your final loan terms, monthly payment, and closing costs, so you’re not surprised by anything on closing day.
Closing
Closing day is when everything becomes official. You’ll sign your loan documents, pay any remaining closing costs, and receive the keys to your new home.
A Few Things Worth Knowing Before the Process Starts.
- Rate shopping works in your favor. As a mortgage broker, we shop multiple wholesale lenders to find the best available rate for your situation. You’re not limited to one bank’s offer.
- Your credit does not take a big hit from applying. Multiple mortgage inquiries within a short window are generally treated as a single inquiry by credit bureaus. Don’t let concerns about your credit score stop you from getting pre-qualified.
- Not every buyer needs a down payment. VA loans and USDA loans both offer no-down-payment options for eligible buyers. Even conventional loans are available with as little as 3% down.
- The process can move quickly. Once you’re under contract, timing matters. Responding promptly when we request documents helps keep your closing on schedule.
Common Questions About the Mortgage Process
What documents will I need to apply?
Most borrowers need recent pay stubs, two years of federal tax returns, two to three months of bank statements, and a valid government-issued ID. We’ll give you a complete list specific to your loan type.
Does getting pre-qualified affect my credit score?
Pre-qualification does require a hard credit pull, but it’s the same report we need to process your loan later. The impact on your score is minimal and temporary.
What if I have questions during the process?
Call us. Linda and Chris are both available directly at (325) 795-1000 during business hours. You won’t be transferred to a call center or left waiting for a callback.
Let’s Find Out What You Qualify For.
Not sure where to start? Linda and Chris can answer your questions, walk through your options, and tell you exactly what you qualify for, in a free 30-minute conversation with no strings attached.