Once we’re under contract on a home—whether in Frisco, Prosper, McKinney, Celina, Plano, Little Elm, or anywhere in North Texas—the next major phase is the loan process.
This is where your lender verifies your financials, reviews the appraisal, checks the title, and makes sure you’re fully qualified to buy the home.
It can feel overwhelming, but when you know what to expect, the entire process becomes smooth and predictable.
Here’s exactly how the Texas loan process works and how I guide you through each step.
1. The Loan Process Begins Immediately After Execution
As soon as your offer is accepted:
✔️ Lender orders disclosures
✔️ You e-sign initial loan documents
✔️ Your file is prepared for underwriting
✔️ Appraisal is ordered (in most cases)
✔️ Title work is initiated
I stay in close communication with your lender to keep everything on schedule.
2. You Submit Required Documentation
Early in the process, you’ll send your lender:
✔️ Pay stubs (last 30 days)
✔️ W-2s
✔️ Tax returns (sometimes)
✔️ Bank statements
✔️ ID
✔️ Employment history
✔️ Letters of explanation (if required)
✔️ Asset documentation
✔️ Proof of funds for down payment
Providing documents quickly keeps us on track for a smooth closing.
3. The Lender Orders the Appraisal
This step confirms the property value.
(We covered details in Article 32.)
The lender will not finalize your loan without:
✔️ Completed appraisal
✔️ Acceptable valuation
✔️ No major property condition issues
Appraisals typically take 5–10 days.
4. File Goes to Initial Underwriting
Underwriting is where your lender:
✔️ Verifies income
✔️ Reviews debts
✔️ Confirms credit history
✔️ Checks assets
✔️ Confirms employment
✔️ Validates down payment
✔️ Reviews tax transcripts
✔️ Reviews the title commitment
✔️ Reviews the appraisal
This step determines whether your loan is conditionally approved.
5. You Receive Conditional Approval
Conditional approval means:
✔️ Your loan is approved
—but—
✔️ The lender needs a few more items before final approval
Common conditions include:
-
Updated pay stubs
-
Updated bank statements
-
Letters of explanation
-
Proof of earnest money deposit
-
Evidence of debts paid off
-
Verification of employment
-
Proof of homeowners insurance
-
Copy of divorce decree (if applicable)
-
Gift letter (if funds are gifted)
This is completely normal.
I help you understand each condition and how to satisfy it quickly.
6. The Lender Reviews the Title Commitment
The lender ensures:
✔️ Clear title
✔️ No unresolved liens
✔️ No ownership disputes
✔️ Correct legal description
✔️ Acceptable survey/T-47
If issues appear, the title company must cure them before closing.
7. The Lender Reviews Homeowners Insurance
You’ll choose your insurance provider early in the process.
The lender verifies:
✔️ Coverage amount
✔️ Deductible
✔️ Premium
✔️ Insurance binder
Insurance must be active by closing day.
8. The File Goes to Final Underwriting
Final underwriting happens once:
✔️ Appraisal is approved
✔️ All conditions are submitted
✔️ Insurance is verified
✔️ Title is cleared
The goal is Clear-to-Close (CTC).
9. You Receive “Clear-to-Close” (CTC)
This is the moment everyone celebrates.
Clear-to-Close means:
✔️ The lender is ready to fund your loan
✔️ All conditions are satisfied
✔️ All documents are approved
✔️ Closing is authorized
Once we receive CTC, the title company schedules your closing day and prepares final documents.
10. The Closing Disclosure (CD) Is Issued
The lender must send you the CD at least 3 days before closing.
The CD includes:
✔️ Loan terms
✔️ Final interest rate
✔️ Closing costs
✔️ Prepaids and escrows
✔️ Cash-to-close amount
✔️ Credits from seller
I review this with you line-by-line to confirm accuracy.
11. Cash-to-Close Is Finalized
The CD will show exactly how much money you need for closing.
You’ll send this via:
✔️ Wire transfer (most common)
✔️ Cashier’s check (in some cases)
I confirm wire instructions with the title company so everything is safe and accurate.
12. The Lender Sends Closing Documents to Title
These include:
✔️ Promissory note
✔️ Deed of trust
✔️ Loan disclosures
✔️ Funding instructions
Title prepares the full closing packet (buyer + seller documents).
13. Closing Day: You Sign Everything at the Title Company
On closing day, you’ll sign:
✔️ Loan documents
✔️ Deed paperwork
✔️ Tax disclosures
✔️ Insurance paperwork
✔️ Settlement statement
This typically takes 45–60 minutes.
14. Funding (Texas Is a Wet-Funding State)
After signing:
✔️ Lender reviews the documents
✔️ Lender releases funds
✔️ Title pays the seller
✔️ Deed is recorded with the county
Once funded and recorded:
✔️ You get the keys
✔️ You officially own the home
15. My Role Throughout the Loan Process
When I represent buyers, I:
✔️ Monitor lender timelines
✔️ Communicate with underwriting
✔️ Coordinate appraisal
✔️ Help gather documents
✔️ Track every deadline
✔️ Review the CD
✔️ Verify wire instructions
✔️ Ensure smooth closing
You won’t need to guess what’s happening. I keep you informed every step of the way.
Bottom Line: The Loan Process in Texas Is Structured and Predictable
Once you understand underwriting and Clear-to-Close, the stress melts away.
My job is to make sure:
✔️ You stay on track
✔️ Your lender stays accountable
✔️ Your documents are submitted correctly
✔️ Your appraisal goes smoothly
✔️ Your loan closes on time
The more proactive your team is, the smoother your closing day will be.
Want a Realtor Who Manages the Loan Process with Precision?
If you want a seamless, organized, stress-free loan experience in North Texas, I’d love to help.
📞 Call or Text: (254) 644-5297✉️ Email Me
