Welcome to the beginning of your loan journey.
Your loan has officially been opened, and our team has started working behind the scenes to move everything forward.
This is the first major milestone in the process. From this point forward, we will keep you and the real estate professionals involved informed as your loan moves through each stage.
Your Loan Journey
Loan Started → Disclosures Signed → Appraisal Ordered → Appraisal Complete → Processing → Underwriting → Initial Approval → Clear to Close → Funded
YOU ARE HERE: LOAN STARTED
What Does “Loan Started” Mean?
It means we have created your official loan file and begun preparing it for the next stages of the mortgage process.
Our team will now begin reviewing and organizing the information connected to your loan, including:
- Your loan application
- Credit and qualifying information
- Income and employment
- Assets and funds needed for closing
- The purchase contract, when applicable
- Important contract dates and deadlines
- Property information
- The loan program and financing strategy
This allows us to begin coordinating the many moving parts required to take your loan from application to closing.
Who Is Working on Your Loan?
A successful closing requires several people working together.
Your Mortgage Team
Our team oversees your financing, communicates important updates, collects required documentation, answers questions, and keeps the loan moving toward closing.
Your Real Estate Agent
Your agent handles the real estate side of the transaction, including the purchase contract, inspections, negotiations, and communication with the listing agent.
The Listing Agent
The listing agent represents the seller and helps coordinate contract deadlines, property access, appraisal scheduling, and communication with the seller.
Title or Escrow
The title or escrow company researches ownership of the property, coordinates settlement documents, calculates certain closing figures, and facilitates the transfer of funds and ownership.
Your Insurance Agent
Your insurance agent provides the homeowners insurance policy required before closing. Starting this process early can help prevent delays later.
Every person has a different responsibility, but we are all working toward the same goal: a smooth and successful closing.
What Is Our Team Doing Right Now?
During this stage, we are establishing the foundation of your loan.
Our team may be:
- Confirming the structure of your financing
- Reviewing the purchase contract and closing date
- Verifying the information on your application
- Organizing the documents already provided
- Identifying anything that may still be needed
- Preparing your initial loan disclosures
- Coordinating with the agents and title or escrow company
- Preparing for the appraisal and processing stages
You may not see every step happening behind the scenes, but the work has officially begun.
What Are Initial Loan Disclosures?
Your next major step will usually be reviewing and electronically signing your initial loan disclosures.
These disclosures provide important information about your proposed financing, including:
- The loan amount
- Interest rate information
- Estimated monthly payment
- Estimated closing costs
- Taxes and insurance
- Important consumer notices and authorizations
These documents are an initial snapshot based on the information available at that time. Certain figures may change as the loan progresses and final information is received from third parties.
Signing your disclosures does not mean you are signing the final closing documents. It allows our team to continue moving your loan through the process.
Does This Mean the Loan Is Fully Approved?
Not yet.
A loan being officially started means the process is underway. Final approval will come later after the application, documentation, property, appraisal, and other required information have been reviewed.
Your loan will still need to move through:
- Document review
- Processing
- Underwriting
- Initial approval
- Review of any remaining conditions
- Final approval
- Clear to close
We will keep you informed as each milestone is reached.
What Might We Need From You?
Every loan is different, but we may request items such as:
- Recent pay stubs
- Bank or investment statements
- Tax returns or business documents
- Identification
- Homeowners insurance information
- Explanations regarding credit, employment, or deposits
- Updated documents as the loan progresses
If we request something, please send it as quickly as possible. Complete and timely documentation is one of the best ways to protect the closing timeline.
Protect Your Approval From the Beginning
From now until your loan has closed and funded, please speak with our team before making any major financial changes.
Avoid:
- Opening or closing credit accounts
- Financing furniture, appliances, or a vehicle
- Co-signing for another person
- Changing jobs or changing how you are paid
- Moving large amounts of money without speaking with us
- Making large cash deposits
- Spending funds reserved for closing
Even a well-qualified borrower can create an unexpected issue by making a financial change during the loan process.
When in doubt, call us first.
What Do You Need to Do Right Now?
Watch for your initial disclosures and any requests from our team.
Please:
- Review and sign requested documents promptly
- Respond quickly to questions
- Send requested documentation through the approved secure method
- Keep your employment, credit, and finances stable
- Contact us before making a significant financial decision
- Let us know immediately if anything changes
We will handle the process, communicate with everyone involved, and keep you informed along the way.
The Next Major Milestone
Initial Disclosures Signed
Once your initial disclosures have been reviewed and signed, our team can continue preparing your loan for the appraisal and processing stages.
We will notify you as soon as you reach the next milestone.
Your loan journey has officially begun. Let’s get you to the closing table.
Written by Ricky Khamis, President of EPiQ Lending, NMLS #173141, Scottsdale, Arizona. Cite as: Khamis, R. (2026). "Your Loan Has Officially Started." rickykhamis.com.
