Home Loan Process Milestones

Milestone 1

Initial Underwriting Review


During this step, the File Review Team will verify the information and support documentation you provided in your home loan application. Their goal is to make sure the Underwriting Team has everything they’ll need to make an assessment of your application, which takes place in the next step.


Your Loan Officer may reach out to request more items or further clarification on a matter on behalf of the File Review Team. This step is all about teamwork. If the File Review Team requests more items from you, the quicker you can get them in, the quicker your file will be able to move on to the next step.

Review the home loan process Do's and Dont's - it's important to understand what you should and shouldn't do while your home application is in process.

Milestone 2

Processing Review


Your home loan application is now in the capable hands of the Underwriting Team, where they will make an early assessment of your application. The team will review and compare it to the specific loan program guidelines for your situation and outline anything else that may be needed, known as the "conditions."


It's not common for a mortgage company to get their Underwriting Team involved this early in the process, but we've found that it makes the entire process faster; it's become our secret sauce to fast home loan closes!

Milestone 3

Final Underwriting Review


Once Underwriting has made a decision, either your Loan Officer or your dedicated Client Manager will reach out to talk to you about next steps. From this point on, your Client Manager will become your main point of contact.


Your dedicated Client Manager will review and become familiar with your home loan application. At this stage in the process, the Client Manager’s focus is on clearing up any outstanding conditions, so Underwriting can approve your home loan application in the next step. Once they complete their review, your Client Manager will give you a ring or send you an email to go over the results. At this time, they will:

  • Explain the current status of your home loan application
  • Review any conditions associated with the loan application based on Underwriting's findings
  • Set expectations and timelines


Keep in mind that at this stage, you have a lot of control over how quickly things move forward. Your Client Manager will be asking you for some additional information to help clear up the conditions - urgency here is key! As in the File Review stage, the quicker you get documents and other requested information to your mortgage team, the quicker your file will be able to move on to the next step!

Milestone 4

Clear to Close


At this stage, the Underwriting Team will typically review the appraisal and title for the first time and approve all the conditions that have been satisfied. If there are any new conditions to report, they'll inform your Client Manager.

Milestone 5

Your Loan is Funded!


Home financing success! This is the part where you tell all of your friends and family about your amazing experience working with OneTrust Home Loans.