The Loan Process

Being Prepared

Buying a home is a large investment and the CrossCountry Mortgage, Inc. team is here to provide you with the tools, know-how and support you need throughout the homebuying process.


When it comes time to look for a home loan, the more you understand about the process, the easier and less stressful it will be. Taking time to familiarize yourself with mortgage terminology will save you a lot of confusion as the mortgage loan process progresses. The typical mortgage loan process takes place over 6 steps.

6 Step Process

1 Prepare and gather documents

Do your research and gather all important financial documents. Call us for assistance.

Document checklist

2 Qualify for a mortgage

Know the difference between pre-qualification and pre-approval.

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3 Shop for mortgages and rates

Many different types of loan products are available. As you shop for a mortgage, consider how long you plan to live in the home. If you plan on selling the home after only a few years, an adjustable rate mortgage (ARM) might be a viable option. If you plan on living in your home for a long period of time, you may want to consider a fixed rate mortgage.

Learn the differences between points and rates. Points are prepaid interest and are often tax deductible. One point equals 1% of the loan.

Ask a loan officer about loan types that will best suit your needs.

4 Apply for a loan

You can apply for a loan in person, online or through the mail.

5 Get approved for a loan

After selecting and applying for a loan, the approval process begins. Your credit, employment history, assets, property value and more will be verified.

Follow the guidelines below to improve your chance of being approved.

For more tips to make your home buying experience go smoothly, visit our Home Buying Guide.

6 Close the loan

Closing typically takes place in the presence of a public notary. You’ll review final documents and make sure the rates and amounts are what you have agreed to. Be prepared to pay any upfront costs such as closing costs and the down payment with a cashier’s check. Personal checks are usually not accepted. Bring your photo ID and possibly a social security card to sign the loan and get your keys!

For more details on the home loan process or questions about terms, contact us today, but there’s no time like right now to find out if you qualify for a loan. Getting pre-qualified is easy! It only takes a few minutes and won’t take any files or documents to get started.

Get Pre-Qualified Now