[{"data":1,"prerenderedAt":769},["ShallowReactive",2],{"site-navigation":3,"global-floating-disclosure":82,"jd-power-global":90,"Xa9wEPxHJp":100,"3KiyH7qjd8":150,"KgQ8VzLmPw":196,"uuzu8T9y7g":249,"NGLrLd2Wev":293,"Fpt7aP0afm":309,"JI3V01gK3A":337,"frBWXIJGjz":420,"taoiNu6NWn":441,"HT9WryMGXu":471,"qeLIr8sAnA":510,"ycx7buolra":549,"Jo4v6jp8wm":560,"Vw0lEbnNvj":572,"U3155RynEB":582,"e39XklTYXt":593,"disclosure-default":615,"spanish-language-disclosure":621,"J1MihCHS9H":628,"SEeE09FmpH":644,"related-articles-/home-loans/articles/mortgage-loan-process/":672},{"_path":4,"_dir":5,"_draft":6,"_partial":6,"_locale":7,"bottomSiteNavigationLinks":8,"mainSiteNavigationLinks":28,"footerSiteNavigationLinks":34,"socialLinks":53,"headerNavigation":64,"_id":77,"_type":78,"title":79,"_source":80,"_file":81,"_extension":78},"/settings/site-navigation","settings",false,"",[9,12,15,18,21,24],{"text":10,"to":11},"Calculators","/calculators",{"text":13,"to":14},"Rates","/rates",{"text":16,"to":17},"Buy","/home-buying",{"text":19,"to":20},"Refinance","/refinancing",{"hideFromSiteMap":6,"text":22,"to":23},"Equity","/equity",{"text":25,"to":26,"hideFromSiteMap":27},"Education & Tools","/education-and-tools",true,[29,30,31,32,33],{"text":10,"to":11},{"text":13,"to":14},{"text":16,"to":17},{"text":19,"to":20},{"text":22,"to":23},[35,38,41,44,47,50],{"text":36,"to":37},"Citi.com","https://www.citi.com",{"text":39,"to":40},"Sitemap","/sitemap",{"text":42,"to":43},"Accessibility","https://online.citi.com/US/JRS/portal/template.do?ID=Accessibility",{"text":45,"to":46},"Privacy Policy","https://online.citi.com/US/JRS/portal/template.do?ID=Privacy",{"text":48,"to":49},"Terms & Conditions","https://online.citi.com/US/nga/termsdisclaimer/termsdisclaimerhome",{"text":51,"to":52},"Do Not Sell or Share My Personal Information","https://online.citi.com/US/ag/dataprivacyhub/cpra/home",[54,57,61],{"to":55,"text":56,"icon":56},"https://www.facebook.com/citibank","Facebook",{"to":58,"text":59,"icon":60},"https://x.com/Citibank","X, formally known as Twitter","X",{"to":62,"text":63,"icon":63},"https://www.youtube.com/citi","YouTube",{"utilityNavigation":65},[66,72],{"link":67,"variant":70,"icon":71},{"text":68,"to":69},"Apply now","#dragonflyapp","primary",null,{"link":73,"variant":76},{"text":74,"to":75},"{{tracking_code}}","tel:{{tracking_code}}","primary-outline","content:settings:site-navigation.json","json","Site Navigation","content","settings/site-navigation.json",{"_path":83,"_dir":84,"_draft":6,"_partial":6,"_locale":7,"slug":85,"content":86,"_id":87,"_type":78,"title":88,"_source":80,"_file":89,"_extension":78},"/disclosures/global-floating-disclosure","disclosures","global-floating-disclosure","This page provides general information regarding mortgage loans or home equity lines of credit. Citi’s offerings and lending guidelines may differ.","content:disclosures:global-floating-disclosure.json","Global Floating Disclosure","disclosures/global-floating-disclosure.json",{"title":91,"subtext":7,"portraitImage":92,"imageAlt":93,"imageWidth":94,"background":95,"borderRadius":96,"maxWidth":97,"paddingTopBottom":98,"paddingLeftRight":98,"gap":98,"variant":99},"Citi is #1 in Customer Satisfaction with Mortgage Origination - ***[J.D. Power 2025 Award](https://www.jdpower.com/business/awards)***","/media/jdpower-trophy.png","J.D. Power 2025 Trophy",48,"var(--brand-default)",0,650,16,"default",{"data":101,"body":103,"excerpt":-1,"toc":147},{"title":7,"description":102},"Key insights:",{"type":104,"children":105},"root",[106,117,137,142],{"type":107,"tag":108,"props":109,"children":110},"element","p",{},[111],{"type":107,"tag":112,"props":113,"children":114},"strong",{},[115],{"type":116,"value":102},"text",{"type":107,"tag":118,"props":119,"children":120},"ul",{},[121,127,132],{"type":107,"tag":122,"props":123,"children":124},"li",{},[125],{"type":116,"value":126},"The mortgage loan process has a lot of steps, but understanding what happens at each one can help everything go more smoothly",{"type":107,"tag":122,"props":128,"children":129},{},[130],{"type":116,"value":131},"You may want to get pre-approved before you submit a loan application and receive a Loan Estimate",{"type":107,"tag":122,"props":133,"children":134},{},[135],{"type":116,"value":136},"Your lender will walk you through loan processing, the home appraisal, underwriting and closing",{"type":107,"tag":108,"props":138,"children":139},{},[140],{"type":116,"value":141},"Buying a home is exciting, but the mortgage loan process can feel like learning a new language overnight. Suddenly there are forms to sign, documents to upload and unfamiliar terms popping up at every turn. There’s no need to worry, though—the process itself can be predictable.",{"type":107,"tag":108,"props":143,"children":144},{},[145],{"type":116,"value":146},"The mortgage process follows a clear set of steps, from early preparation through closing day. Knowing what’s coming next can help you stay organized, respond quickly and avoid unnecessary delays. Whether you’re buying your first home or getting back into the market, a little planning goes a long way. Let’s take a look at the mortgage process, step by step.",{"title":7,"searchDepth":148,"depth":148,"links":149},2,[],{"data":151,"body":153,"excerpt":-1,"toc":194},{"title":7,"description":152},"For most home buyers, the mortgage loan process starts before they ever tour a home. First things first: You’ll want to talk with a lender to understand how much you may be able to borrow. With this intel, you’ll be better prepared to set a realistic budget and start your home search with confidence.",{"type":104,"children":154},[155,159,173,178,189],{"type":107,"tag":108,"props":156,"children":157},{},[158],{"type":116,"value":152},{"type":107,"tag":108,"props":160,"children":161},{},[162,164,171],{"type":116,"value":163},"You’ll often hear two related terms at this stage: ",{"type":107,"tag":165,"props":166,"children":168},"a",{"href":167},"/home-buying/articles/prequalified-vs-pre-approved/",[169],{"type":116,"value":170},"prequalification and pre-approval",{"type":116,"value":172},". Many buyers choose to do both, starting with prequalification and moving on to pre-approval as they get closer to making an offer.",{"type":107,"tag":108,"props":174,"children":175},{},[176],{"type":116,"value":177},"Prequalification is a quick estimate of how much you may be able to borrow based on basic information you share about your income, debts and finances. It gives you a general sense of your price range, which can help narrow your search and avoid wasting time on homes that may not fit your budget.",{"type":107,"tag":108,"props":179,"children":180},{},[181,187],{"type":107,"tag":165,"props":182,"children":184},{"href":183},"/home-loans/articles/how-to-get-pre-approved/",[185],{"type":116,"value":186},"Pre-approval",{"type":116,"value":188}," goes a step further. The mortgage lender checks your credit score and reviews documents such as pay stubs, tax returns and bank statements to verify your financial details. Because the information is confirmed, pre-approval provides a clearer picture of what you can afford and can make your offer stronger when you’re ready to buy.",{"type":107,"tag":108,"props":190,"children":191},{},[192],{"type":116,"value":193},"Together, these steps help you set expectations early and have confidence that your budget is grounded in real numbers.",{"title":7,"searchDepth":148,"depth":148,"links":195},[],{"data":197,"body":199,"excerpt":-1,"toc":247},{"title":7,"description":198},"Once you’re ready to make an offer on a home, you’ll complete a formal mortgage application. At this point, you’ll provide more detailed information about your finances, including income, assets, debts and employment history.",{"type":104,"children":200},[201,205,210,229,241],{"type":107,"tag":108,"props":202,"children":203},{},[204],{"type":116,"value":198},{"type":107,"tag":108,"props":206,"children":207},{},[208],{"type":116,"value":209},"Many lenders offer online applications, while others may guide you through the process over the phone or in person. Either way, gathering documents early can make this step easier. Common requests include recent bank statements, tax forms and proof of income.",{"type":107,"tag":108,"props":211,"children":212},{},[213,215,221,223],{"type":116,"value":214},"As you move through the application, you may also review different loan options with your lender to see what fits your situation. There are home loan programs designed to support borrowers with a range of financial profiles, such as the ",{"type":107,"tag":165,"props":216,"children":218},{"href":217},"/home-loans/home-run/",[219],{"type":116,"value":220},"HomeRun® Mortgage",{"type":116,"value":222},", ",{"type":107,"tag":165,"props":224,"children":226},{"href":225},"/home-loans/home-ready-home-possible/",[227],{"type":116,"value":228},"Home Possible® and HomeReady® loans.",{"type":107,"tag":230,"props":231,"children":240},"card",{"background-color":7,"body":232,"cta-text":233,"cta-type":234,"eyebrow-icon":7,"headline":235,"icon":236,"image-position":237,"link":238,"margin-size":239},"The Citi SureStart® Pre-Approval comes with a firm commitment to lend.","Learn More","text-arrow","Ready to get pre-approved?","Penpaper","top","https://www.citi.com/mortgage/surestart-preapproval","small",[],{"type":107,"tag":242,"props":243,"children":246},"disclaimer-dialog",{":dialog-copy":244,"button-copy":245},"\"### Citi SureStart® Terms & Conditions\\n\\nSureStart® Pre-Approval is a registered service mark of Citigroup Inc. Final commitment is subject to verification of information, receipt of a satisfactory sales contract on the home you wish to purchase, appraisal and title report, and meeting our customary closing conditions. There is no charge to receive a SureStart® Pre-Approval. However, standard application and commitment fees will apply for the mortgage loan application.\"","SureStart® Terms & Conditions",[],{"title":7,"searchDepth":148,"depth":148,"links":248},[],{"data":250,"body":252,"excerpt":-1,"toc":291},{"title":7,"description":251},"After you submit your application, your lender will give you a document called a Loan Estimate. It outlines the key details of the proposed loan in a standardized format.",{"type":104,"children":253},[254,258,263,286],{"type":107,"tag":108,"props":255,"children":256},{},[257],{"type":116,"value":251},{"type":107,"tag":108,"props":259,"children":260},{},[261],{"type":116,"value":262},"You’ll see information such as:",{"type":107,"tag":118,"props":264,"children":265},{},[266,271,276,281],{"type":107,"tag":122,"props":267,"children":268},{},[269],{"type":116,"value":270},"The type of loan",{"type":107,"tag":122,"props":272,"children":273},{},[274],{"type":116,"value":275},"The interest rate",{"type":107,"tag":122,"props":277,"children":278},{},[279],{"type":116,"value":280},"Estimated monthly costs",{"type":107,"tag":122,"props":282,"children":283},{},[284],{"type":116,"value":285},"Estimated closing costs",{"type":107,"tag":108,"props":287,"children":288},{},[289],{"type":116,"value":290},"It’s important to note that a Loan Estimate is just that—an estimate. Getting one doesn’t mean you’ve been approved for a loan. But reviewing it carefully helps you understand how the loan is structured and whether it will work for your needs.",{"title":7,"searchDepth":148,"depth":148,"links":292},[],{"data":294,"body":296,"excerpt":-1,"toc":307},{"title":7,"description":295},"If you decide to move forward with your Loan Estimate, let your lender know. Once you give them the thumbs-up, your loan moves into processing. A loan processor acts as the organizer behind the scenes, reviewing your file to verify your documents and make sure everything is complete and accurate before it goes to underwriting.",{"type":104,"children":297},[298,302],{"type":107,"tag":108,"props":299,"children":300},{},[301],{"type":116,"value":295},{"type":107,"tag":108,"props":303,"children":304},{},[305],{"type":116,"value":306},"During this phase, it’s common for the lender to request additional items. These might include updated statements, clarification on recent deposits or letters explaining certain financial details. While it can feel repetitive, these requests are a normal part of the mortgage loan process and are nothing to worry about.",{"title":7,"searchDepth":148,"depth":148,"links":308},[],{"data":310,"body":312,"excerpt":-1,"toc":335},{"title":7,"description":311},"An appraisal is how the lender makes sure the home is worth what you’re paying for it. It’s an independent review of the property’s value that confirms the loan amount lines up with the price. Lenders require appraisals as part of the process.",{"type":104,"children":313},[314,325,330],{"type":107,"tag":108,"props":315,"children":316},{},[317,323],{"type":107,"tag":165,"props":318,"children":320},{"href":319},"/home-buying/articles/home-appraisal/",[321],{"type":116,"value":322},"An appraisal",{"type":116,"value":324}," is how the lender makes sure the home is worth what you’re paying for it. It’s an independent review of the property’s value that confirms the loan amount lines up with the price. Lenders require appraisals as part of the process.",{"type":107,"tag":108,"props":326,"children":327},{},[328],{"type":116,"value":329},"The appraiser will visit the home and look at its condition, its location and recent sales of similar homes in the area. All of this data helps paint a clearer picture of the home’s current market value.",{"type":107,"tag":108,"props":331,"children":332},{},[333],{"type":116,"value":334},"If the appraisal comes in at or above the purchase price, things usually move forward without issue. If it comes in lower, your lender will explain what happens next. There are usually a few options, including adjusting the purchase price, reviewing the appraisal or making changes to the deal, so the process can continue.",{"title":7,"searchDepth":148,"depth":148,"links":336},[],{"data":338,"body":340,"excerpt":-1,"toc":418},{"title":7,"description":339},"Underwriting is the lender’s final check to make sure everything in your application lines up. An underwriter reviews the full picture, not to find faults, but to confirm the loan meets the required guidelines.",{"type":104,"children":341},[342,353,358,413],{"type":107,"tag":108,"props":343,"children":344},{},[345,351],{"type":107,"tag":165,"props":346,"children":348},{"href":347},"/home-buying/articles/what-is-mortgage-underwriting/",[349],{"type":116,"value":350},"Underwriting",{"type":116,"value":352}," is the lender’s final check to make sure everything in your application lines up. An underwriter reviews the full picture, not to find faults, but to confirm the loan meets the required guidelines.",{"type":107,"tag":108,"props":354,"children":355},{},[356],{"type":116,"value":357},"During this review, they look at a few different things:",{"type":107,"tag":118,"props":359,"children":360},{},[361,372,383,393,403],{"type":107,"tag":122,"props":362,"children":363},{},[364,370],{"type":107,"tag":165,"props":365,"children":367},{"href":366},"/home-buying/articles/what-is-a-good-debt-to-income-ratio/",[368],{"type":116,"value":369},"Debt-to-income ratio (DTI)",{"type":116,"value":371}," shows how much of your monthly income already goes toward debts and helps the lender see whether a mortgage payment fits comfortably into your budget",{"type":107,"tag":122,"props":373,"children":374},{},[375,381],{"type":107,"tag":165,"props":376,"children":378},{"href":377},"/home-buying/articles/what-credit-score-do-you-need-to-buy-a-house/",[379],{"type":116,"value":380},"Credit",{"type":116,"value":382}," gives the lender insight into how you’ve handled borrowing and payments in the past",{"type":107,"tag":122,"props":384,"children":385},{},[386,391],{"type":107,"tag":112,"props":387,"children":388},{},[389],{"type":116,"value":390},"Income consistency",{"type":116,"value":392}," helps confirm that your income is steady and dependable, not just higher during one period",{"type":107,"tag":122,"props":394,"children":395},{},[396,401],{"type":107,"tag":112,"props":397,"children":398},{},[399],{"type":116,"value":400},"Appraisal results",{"type":116,"value":402}," confirm the home’s value matches the purchase price and reflects what similar homes are selling for",{"type":107,"tag":122,"props":404,"children":405},{},[406,411],{"type":107,"tag":112,"props":407,"children":408},{},[409],{"type":116,"value":410},"Employment verification",{"type":116,"value":412}," makes sure you’re currently employed and earning the income listed on your application",{"type":107,"tag":108,"props":414,"children":415},{},[416],{"type":116,"value":417},"It’s common for lenders to ask a few follow-up questions or request additional documentation at this stage. These checks are a normal part of the process and help move things toward final approval.",{"title":7,"searchDepth":148,"depth":148,"links":419},[],{"data":421,"body":423,"excerpt":-1,"toc":439},{"title":7,"description":422},"If the underwriter is satisfied with their review, your loan receives final approval. You may hear this referred to as being “clear to close.”",{"type":104,"children":424},[425,429,434],{"type":107,"tag":108,"props":426,"children":427},{},[428],{"type":116,"value":422},{"type":107,"tag":108,"props":430,"children":431},{},[432],{"type":116,"value":433},"At this point, all required conditions have been met. The lender prepares the final loan documents and coordinates with the closing agent to schedule signing.",{"type":107,"tag":108,"props":435,"children":436},{},[437],{"type":116,"value":438},"This is an exciting milestone in the mortgage loan process, as it means you’re almost at the finish line.",{"title":7,"searchDepth":148,"depth":148,"links":440},[],{"data":442,"body":444,"excerpt":-1,"toc":469},{"title":7,"description":443},"Closing day is when everything comes together. You’ll review and sign the final paperwork, including the closing disclosure, which outlines the confirmed terms and costs of your loan.",{"type":104,"children":445},[446,459,464],{"type":107,"tag":108,"props":447,"children":448},{},[449,451,457],{"type":116,"value":450},"Closing day is when everything comes together. You’ll review and sign the final paperwork, including the ",{"type":107,"tag":165,"props":452,"children":454},{"href":453},"/home-buying/articles/closing-disclosure/",[455],{"type":116,"value":456},"closing disclosure,",{"type":116,"value":458}," which outlines the confirmed terms and costs of your loan.",{"type":107,"tag":108,"props":460,"children":461},{},[462],{"type":116,"value":463},"You’ll also provide any remaining funds required for closing. Once the closing documents are signed and the transaction is complete, ownership transfers and you receive the keys to your new home.",{"type":107,"tag":108,"props":465,"children":466},{},[467],{"type":116,"value":468},"It’s a busy day, but your lender and closing team will guide you through each step.",{"title":7,"searchDepth":148,"depth":148,"links":470},[],{"data":472,"body":474,"excerpt":-1,"toc":508},{"title":7,"description":473},"Your timeline for the mortgage process will vary on several factors, including:",{"type":104,"children":475},[476,480,503],{"type":107,"tag":108,"props":477,"children":478},{},[479],{"type":116,"value":473},{"type":107,"tag":118,"props":481,"children":482},{},[483,488,493,498],{"type":107,"tag":122,"props":484,"children":485},{},[486],{"type":116,"value":487},"How quickly you provide documents",{"type":107,"tag":122,"props":489,"children":490},{},[491],{"type":116,"value":492},"Appraisal scheduling",{"type":107,"tag":122,"props":494,"children":495},{},[496],{"type":116,"value":497},"Loan type",{"type":107,"tag":122,"props":499,"children":500},{},[501],{"type":116,"value":502},"Overall lender/underwriter workload",{"type":107,"tag":108,"props":504,"children":505},{},[506],{"type":116,"value":507},"Staying organized and responsive can help prevent unnecessary delays.",{"title":7,"searchDepth":148,"depth":148,"links":509},[],{"data":511,"body":513,"excerpt":-1,"toc":547},{"title":7,"description":512},"There are a few simple things you can do along the way to help your mortgage process go more smoothly:",{"type":104,"children":514},[515,519],{"type":107,"tag":108,"props":516,"children":517},{},[518],{"type":116,"value":512},{"type":107,"tag":118,"props":520,"children":521},{},[522,527,532,537,542],{"type":107,"tag":122,"props":523,"children":524},{},[525],{"type":116,"value":526},"Respond quickly to lender requests. Even small delays can slow things down, so replying promptly helps keep your application moving.",{"type":107,"tag":122,"props":528,"children":529},{},[530],{"type":116,"value":531},"Keep your finances steady. Try to avoid opening new credit cards or making large purchases until your loan is finalized.",{"type":107,"tag":122,"props":533,"children":534},{},[535],{"type":116,"value":536},"Stay organized. Keeping important documents in one place makes it easier to share what’s needed when it’s requested.",{"type":107,"tag":122,"props":538,"children":539},{},[540],{"type":116,"value":541},"Keep bank activity stable. Big or unusual deposits and withdrawals can raise questions, so it helps to keep spending and transfers consistent.",{"type":107,"tag":122,"props":543,"children":544},{},[545],{"type":116,"value":546},"Ask questions when something isn’t clear. Your lender can walk you through what’s happening and help you understand the next steps.",{"title":7,"searchDepth":148,"depth":148,"links":548},[],{"data":550,"body":552,"excerpt":-1,"toc":558},{"title":7,"description":551},"The mortgage loan process may feel complex at first, but each step serves a purpose. With a clear understanding of what to expect, you can work through the process with more confidence and less stress, allowing you to focus on the excitement of finding a place to call home.",{"type":104,"children":553},[554],{"type":107,"tag":108,"props":555,"children":556},{},[557],{"type":116,"value":551},{"title":7,"searchDepth":148,"depth":148,"links":559},[],{"data":561,"body":562,"excerpt":-1,"toc":570},{"title":7,"description":7},{"type":104,"children":563},[564],{"type":107,"tag":565,"props":566,"children":569},"faq",{":faqs":567,"headline":568},"[{\"question\":\"What is the mortgage loan process?\",\"answer\":\"The mortgage loan process is the series of steps lenders follow to review your finances, evaluate the property and approve a home loan, from prequalification through closing.\"},{\"question\":\"How long does the mortgage loan process usually take?\",\"answer\":\"The mortgage loan process often takes several weeks, though timelines vary based on loan type, document readiness and appraisal timing.\"},{\"question\":\"Can the mortgage loan process be delayed?\",\"answer\":\"Yes. Delays can happen if documents are missing, financial changes occur during the process or appraisal issues arise. Staying organized and responsive can help minimize delays.\"},{\"question\":\"Is the mortgage loan process different for first-time home buyers?\",\"answer\":\"The steps are generally the same, though first-time home buyers may receive additional guidance throughout the process.\"}]","Mortgage loan process FAQs",[],{"title":7,"searchDepth":148,"depth":148,"links":571},[],{"data":573,"body":574,"toc":580},{"title":7,"description":86},{"type":104,"children":575},[576],{"type":107,"tag":108,"props":577,"children":578},{},[579],{"type":116,"value":86},{"title":7,"searchDepth":148,"depth":148,"links":581},[],{"data":583,"body":585,"toc":591},{"title":7,"description":584},"Citi is #1 in Customer Satisfaction with Mortgage Origination - J.D. Power",{"type":104,"children":586},[587],{"type":107,"tag":108,"props":588,"children":589},{},[590],{"type":116,"value":584},{"title":7,"searchDepth":148,"depth":148,"links":592},[],{"data":594,"body":596,"toc":613},{"title":7,"description":595},"For J.D. Power 2025 award information, visit jdpower.com/awards.",{"type":104,"children":597},[598],{"type":107,"tag":108,"props":599,"children":600},{},[601,603,611],{"type":116,"value":602},"For J.D. Power 2025 award information, visit ",{"type":107,"tag":165,"props":604,"children":608},{"href":605,"rel":606},"https://www.jdpower.com/business/awards",[607],"nofollow",[609],{"type":116,"value":610},"jdpower.com/awards",{"type":116,"value":612},".",{"title":7,"searchDepth":148,"depth":148,"links":614},[],{"_path":616,"_dir":84,"_draft":6,"_partial":6,"_locale":7,"slug":99,"content":617,"_id":618,"_type":78,"title":619,"_source":80,"_file":620,"_extension":78},"/disclosures/default","This page provides general information regarding mortgages or home equity lines of credit. Citi's offerings and lending guidelines may be different. This content is for educational purposes. It is not intended to provide legal, investment, tax, or financial advice and is not a substitute for professional advice. For advice about your specific circumstances, you should consult a mortgage professional and refer to the information and disclosures provided to you by the lender you choose regarding its products and services.\n\nTerms, conditions and fees for accounts, programs, products and services are subject to change without notice. This is not a commitment to lend. All loans and offers are subject to standard underwriting guidelines and required conditions. This offer contains information about U.S. domestic financial services provided by Citibank, N.A. and is intended for use domestically in the U.S. Certain restrictions may apply on all programs.","content:disclosures:default.json","Default","disclosures/default.json",{"_path":622,"_dir":84,"_draft":6,"_partial":6,"_locale":7,"content":623,"slug":624,"_id":625,"_type":78,"title":626,"_source":80,"_file":627,"_extension":78},"/disclosures/spanish-language-disclosure","\u003Csup>†\u003C/sup>Please be advised that verbal and written communication from Citi may be in English as we may not be able to provide servicing related communications in all languages. These communications may include, but are not limited to, account agreements, statements and disclosures, change in terms or fees; or any servicing of your account. If you need assistance in a language other than English, please contact us as we have language services that may be of assistance to you.\n\n\u003Cspan lang=\"es\">Por favor, tenga en cuenta que las comunicaciones verbales y escritas de Citi podrían estar únicamente en inglés, ya que, tal vez, no podamos proporcionar comunicaciones relacionadas con los servicios en todos los idiomas. Estas comunicaciones podrían incluir, entre otras, contratos, divulgaciones y estados de cuenta, cambios en los términos o en los cargos, así como cualquier documento de mantenimiento de su cuenta. Si necesita ayuda en un idioma distinto al inglés, por favor, comuníquese con nosotros, ya que tenemos servicios de idiomas que podrían serle útiles.\u003C/span>","spanish-language-disclosure","content:disclosures:spanish-language-disclosure.json","Spanish Language Disclosure","disclosures/spanish-language-disclosure.json",{"data":629,"body":631,"toc":642},{"title":7,"description":630},"This page provides general information regarding mortgages or home equity lines of credit. Citi's offerings and lending guidelines may be different. This content is for educational purposes. It is not intended to provide legal, investment, tax, or financial advice and is not a substitute for professional advice. For advice about your specific circumstances, you should consult a mortgage professional and refer to the information and disclosures provided to you by the lender you choose regarding its products and services.",{"type":104,"children":632},[633,637],{"type":107,"tag":108,"props":634,"children":635},{},[636],{"type":116,"value":630},{"type":107,"tag":108,"props":638,"children":639},{},[640],{"type":116,"value":641},"Terms, conditions and fees for accounts, programs, products and services are subject to change without notice. This is not a commitment to lend. All loans and offers are subject to standard underwriting guidelines and required conditions. This offer contains information about U.S. domestic financial services provided by Citibank, N.A. and is intended for use domestically in the U.S. Certain restrictions may apply on all programs.",{"title":7,"searchDepth":148,"depth":148,"links":643},[],{"data":645,"body":647,"toc":670},{"title":7,"description":646},"†Please be advised that verbal and written communication from Citi may be in English as we may not be able to provide servicing related communications in all languages. These communications may include, but are not limited to, account agreements, statements and disclosures, change in terms or fees; or any servicing of your account. If you need assistance in a language other than English, please contact us as we have language services that may be of assistance to you.",{"type":104,"children":648},[649,660],{"type":107,"tag":108,"props":650,"children":651},{},[652,658],{"type":107,"tag":653,"props":654,"children":655},"sup",{},[656],{"type":116,"value":657},"†",{"type":116,"value":659},"Please be advised that verbal and written communication from Citi may be in English as we may not be able to provide servicing related communications in all languages. These communications may include, but are not limited to, account agreements, statements and disclosures, change in terms or fees; or any servicing of your account. If you need assistance in a language other than English, please contact us as we have language services that may be of assistance to you.",{"type":107,"tag":108,"props":661,"children":662},{},[663],{"type":107,"tag":664,"props":665,"children":667},"span",{"lang":666},"es",[668],{"type":116,"value":669},"Por favor, tenga en cuenta que las comunicaciones verbales y escritas de Citi podrían estar únicamente en inglés, ya que, tal vez, no podamos proporcionar comunicaciones relacionadas con los servicios en todos los idiomas. Estas comunicaciones podrían incluir, entre otras, contratos, divulgaciones y estados de cuenta, cambios en los términos o en los cargos, así como cualquier documento de mantenimiento de su cuenta. Si necesita ayuda en un idioma distinto al inglés, por favor, comuníquese con nosotros, ya que tenemos servicios de idiomas que podrían serle útiles.",{"title":7,"searchDepth":148,"depth":148,"links":671},[],[673,729],{"_path":674,"_dir":675,"_draft":6,"_partial":6,"_locale":7,"readTime":676,"l1":675,"linkNav":677,"heroMedia":681,"teaserImage":684,"slug":686,"sections":687,"date":700,"subheadline":701,"headline":702,"isFeatured":6,"tags":703,"link":707,"seo":710,"hasSectionNavigation":27,"_id":713,"_type":78,"title":714,"_source":80,"_file":715,"_extension":78,"tagsDetails":716},"/articles/home-loans/how-to-get-pre-approved-1","home-loans",5,{"introText":678,"text":679,"to":680},"Ready for the next step?","Connect with a Citi Specialist","/contact",{"landscape":682,"portrait":683},"/media/article-how-do-you-get-pre-approved-for-a-home-loan-mobile-768x512.jpg","/media/article-how-do-you-get-pre-approved-for-a-home-loan-desktop-520x638.jpg",{"src":685},"/media/article-how-do-you-get-pre-approved-for-a-home-loan-teaser-500x500.jpg","how-to-get-pre-approved",[688,691,694,697],{"title":689,"content":690},"6 steps to mortgage preapproval ","First things first, what does mortgage preapproval actually mean? It’s a letter from lenders that tentatively tells you how much money they’ll let you borrow. And while it’s not a guarantee, it shows sellers and [real estate agents](/home-buying/articles/what-is-a-real-estate-agent) that you’re serious about buying a home. That stamp of approval helps your offer shine and can give you the edge you need to beat out other homeowners-to-be.  \n\nNow, let’s move on to how to get a mortgage preapproval. Here’s a quick guide to help make it happen.  \n\n### 1. Get your credit score\n\nYou’re going to want to know this number before you apply for preapproval. It shows lenders how reliable you are and plays a big part in what your [loan terms](/home-buying/articles/apr-vs-interest-rate) will look like. Remember, you’re hoping for a high number here. If your [credit score](/home-buying/articles/what-credit-score-do-you-need-to-buy-a-house) is over 620, you’re in pretty good shape.  \n\n### 2. Check your credit history\n\nThe next step is to round up your credit report. Lenders take a look at this to see how you’ve managed money in the past, so they’ll be checking out whether you pay on time, if you have debts and how long you’ve been using credit. Be sure to go over everything with a fine-tooth comb. If something seems out of place, you’ll want to sort it out sooner rather than later to put a stop to any snags.\n\n::tip{icon=\"Bulb\" title=\"PRO TIP \" text=\"You can score a free copy of your credit report from the three major credit bureaus, [Equifax](https://www.equifax.com/personal/credit-report-services/free-credit-reports/), [Experian](https://www.experian.com/consumer-products/free-credit-report.html) and [TransUnion](https://www.transunion.com), every 12 months.\"}\n::\n\n### 3. Find your debt-to-income (DTI) ratio\n\nNow it’s time to figure out your [debt-to-income ratio](/home-buying/articles/what-is-a-good-debt-to-income-ratio). Your DTI is a simple way to show how much money you owe each month compared to how much you make. To find it, you’ll add up your monthly debts, like credit card payments, and divide them by your gross monthly income. Lenders love lower ratios—think 36% or less. If your DTI is running higher, bring it down by boosting your income or paying off as much debt as you can. \n\n### 4. Pull together important info\n\nTo get preapproval for a home loan, you’re going to need to gather up documents so lenders can make sure all your information checks out. Go ahead and grab your: \n\n* **Proof of income:** You’ll want to track down pay stubs, tax returns and W-2 forms from the past two years. \n* **Proof of assets:** Your latest bank and investment account statements will help prove you can afford a down payment and other costs. \n* **Employee verification:** Recent pay stubs and employer contact info will help lenders confirm your job and income. \n* **The details on any debt:** Your lender needs a full look at your finances, so they’ll want to know about things like student loans, auto loans and credit cards.  \n\n### 5. Get in touch with your lender\n\nNow that you’ve got your paperwork squared away, you’re ready to reach out to your lender to go through the preapproval process for your [mortgage](/home-loans/articles/what-is-a-mortgage).   \n\n### **6. Time to apply for a mortgage preapproval**\n\nBe sure to confirm with the lender that you want a mortgage preapproval and not a pre-qualification. A preapproval comes with a loan commitment, and you’ll have the peace of mind knowing an underwriter has reviewed your loan request. A prequalification is based on verbal information you provide and does not have the level of underwriting that a preapproval does. This also helps boost your buying leverage and gives you an edge over other buyers who don’t have a firm preapproval commitment. \n\n \n\n\n::card{eyebrowIcon=\"\" body=\"Speak to your Citi Specialist about getting preapproved with a Citi SureStart® Pre-Approval. Unlike many preapprovals, it comes with a firm commitment to lend.\" imagePosition=\"top\" ctaType=\"text-arrow\" marginSize=\"small\" headline=\"Ready to get preapproved?\" backgroundColor=\"\" icon=\"Homebuyer\" link=\"https://www.citi.com/mortgage/surestart-preapproval\" ctaText=\"Learn More\"}\n::\n\n::disclaimer-dialog{buttonCopy=\"Citi SureStart® Terms & Conditions\" :dialogCopy='\"## Citi SureStart® Terms & Conditions\\n\\nSureStart® Pre-Approval is a registered service mark of Citigroup Inc. Final commitment is subject to verification of information, receipt of a satisfactory sales contract on the home you wish to purchase, appraisal and title report, and meeting our customary closing conditions. There is no charge to receive a SureStart® Pre-Approval. However, standard application and commitment fees will apply for the mortgage loan application.\"'}\n::",{"title":692,"content":693},"Preapproval vs. prequalification","Both prequalification and preapproval can be helpful for home buyers, but they’re not quite the same thing. Let’s break down how the mortgage prequalification process is different from the preapproval process, so you can see which is the best fit for you.\n\n::inline-table{tableLayout=\"basic\" :headers='[{\"value\":\"Aspect \"},{\"value\":\"Prequalification \"},{\"value\":\"Preapproval \"}]' :rows='[{\"column\":{\"valueOne\":\"Definition \",\"valueTwo\":\"An initial evaluation of your creditworthiness based on self-reported financial data. \",\"valueThree\":\"A more thorough assessment involving an actual application and detailed verification of your finances. \"}},{\"column\":{\"valueOne\":\"Process \",\"valueTwo\":\"Quick and based mostly on the information you provide. \",\"valueThree\":\"Involves a formal application and credit check. \"}},{\"column\":{\"valueOne\":\"Documents Required \",\"valueTwo\":\"None or very basic financial information. \",\"valueThree\":\"Detailed financial documents such as W-2 forms, tax returns, bank statements, etc. \"}},{\"column\":{\"valueOne\":\"Time Taken \",\"valueTwo\":\"Usually fast, can be done over the phone or online. \",\"valueThree\":\"Takes longer due to the detailed scrutiny of financial documents. \"}},{\"column\":{\"valueOne\":\"Result \",\"valueTwo\":\"An estimate of how much you might be able to borrow. \",\"valueThree\":\"A specific loan amount that you are likely to be approved for. \"}},{\"column\":{\"valueOne\":\"Credibility \",\"valueTwo\":\"Less credible, as it does not involve a detailed analysis or credit check. \",\"valueThree\":\"More credible, often required by sellers to make an offer on a home. \"}},{\"column\":{\"valueOne\":\"Validity \",\"valueTwo\":\"Generally valid for a short period, often a few months. \",\"valueThree\":\"Typically has a set expiration date, usually 60 to 90 days after issuance. \"}}]'}\n::",{"title":695,"content":696},"When should you get preapproved for a mortgage?","It’s a good idea to start the preapproval process early on in your home buying journey—around a few weeks or months before you start [making offers](/home-buying/articles/how-to-make-an-offer). That gives you a chance to iron out any wrinkles in your credit history and gives you time to apply for preapproval.    \n\nOne thing to watch out for? Preapproval for a [mortgage](/home-loans/articles/what-is-a-mortgage) doesn’t last forever. Your letter is typically good for about 60 to 90 days, which means you only want to get preapproved if you’re serious about your search.  \n\nIf buying a new home takes longer than you thought, you can get your updated documents back together and go through the process again. As a silver lining, your lender will already have most of your info on file.",{"title":698,"content":699,"hideTitle":27},"Preapproval FAQs","::faq{headline=\"Preapproval FAQs\" :faqs='[{\"question\":\"Does mortgage preapproval affect your credit score?\",\"answer\":\"With preapprovals, lenders look at your credit report with what’s called a hard inquiry. That can cause a small dip in your credit score, but the ding should only be temporary.\"},{\"question\":\"How long will it take to get preapproved?\",\"answer\":\"Anywhere from a few days to a few weeks. Want to speed things up? Knock out any requests from your lender as quickly as possible and make sure that all your paperwork is in order before kicking the preapproval process into high gear.\"},{\"question\":\"What do you need for a mortgage preapproval?\",\"answer\":\"Your lender is going to want some personal information, including your Social Security number, along with paperwork like proof of income, bank account info and your recent tax returns and W-2s. \"},{\"question\":\"What’s the best way to get preapproved for a mortgage?\",\"answer\":\"Being prepared goes a long way. Before you start applying, get clued in on your credit score, credit history and DTI. After that, it’s time to put together your paperwork. By staying organized early in the process, you can get your best shot at preapproval and landing the keys to the home of your dreams.\"}]'}\n::","2024-09-13T11:47:00.000Z","When you start searching for your new home, a big part of finding the right place boils down to budget. You’ve got to balance the details you’re dreaming of with what fits your finances, and that’s where mortgage preapproval comes in. Getting that initial green light from lenders not only gives you a good handle on what you can afford, but it can also help you stand out to sellers. Let’s dive in.","How to get mortgage preapproval",[704,705,706],"home-buying","real-estate-process","loan-process",{"introText":708,"text":679,"to":680,"body":709},"Want help snagging a preapproval?","We’re always here to help.",{"title":711,"description":712},"How To Get PreApproved For a Mortgage","Learn how to get preapproved for a mortgage. Understand steps to mortgage preapproval and prequalify for a home loan to start your home buying journey.","content:articles:home-loans:how-to-get-pre-approved-1.json","How To Get Pre Approved 1","articles/home-loans/how-to-get-pre-approved-1.json",[717,721,725],{"label":718,"slug":705,"seo":719},"Real Estate Process",{"description":720},"Learn more about real estate process with helpful articles, tools, and guides to support your homeownership journey.",{"label":722,"slug":706,"seo":723},"Loan Process",{"description":724},"Explore resources about loan process—including types, requirements, and how to choose the right mortgage option.",{"label":726,"slug":704,"seo":727},"Home Buying",{"description":728},"Learn more about home buying with helpful articles, tools, and guides to support your homeownership journey.",{"_path":730,"_dir":675,"_draft":6,"_partial":6,"_locale":7,"readTime":731,"l1":675,"linkNav":732,"heroMedia":733,"teaserImage":736,"slug":738,"sections":739,"date":750,"subheadline":751,"headline":752,"isFeatured":6,"tags":753,"link":755,"seo":758,"hasSectionNavigation":27,"_id":761,"_type":78,"title":762,"_source":80,"_file":763,"_extension":78,"tagsDetails":764},"/articles/home-loans/residential-mortgage-credit-report",4,{"introText":678,"text":679,"to":680},{"landscape":734,"portrait":735},"/media/article-what-is-a-residential-mortgage-credit-report-rmcr-_-mobile-768x512.jpg","/media/article-what-is-a-residential-mortgage-credit-report-rmcr-_-desktop-520x638.jpg",{"src":737},"/media/article-what-is-a-residential-mortgage-credit-report-rmcr-_-teaser-500x500.jpg","residential-mortgage-credit-report",[740,743,747],{"title":741,"content":742},"Residential mortgage credit report, defined","When you [apply for a mortgage](/home-buying/articles/apply-for-a-mortgage), lenders might look at your Residential Mortgage Credit Report (RMCR) to evaluate your creditworthiness as a borrower. This report provides a detailed overview of your credit history, including your credit scores, payment history, outstanding debts and any negative marks such as late payments, defaults or bankruptcies. Lenders start out by pulling your tri-merge report first.  \n\n::callout{title=\"What’s a tri-merge credit report? \" body=\"Think of this as a high level snapshot of your overall [credit score](/home-buying/articles/what-credit-score-do-you-need-to-buy-a-house). It pulls info from the three big credit bureaus—Experian, TransUnion and Equifax—into one handy report. Each bureau might have slightly different stats on you, so a tri-merge offers a good general overview.\" :media='{\"landscape\":\"/media/mobile-719x300-1-.jpg\",\"portrait\":\"/media/desktop-327x245.jpg\"}'}\n::\n\nUnderwriters use the middle score of your tri-merge credit report, or if you're applying with a partner, the lowest middle score of the two borrowers on the application. \n\nLet's simplify this with an example involving two individuals, John and Dave:\n\n::inline-table{tableLayout=\"waffle\" :headers='[{\"value\":\"Credit Bureau \"},{\"value\":\"John\"},{\"value\":\"Dave\"}]' :rows='[{\"column\":{\"valueOne\":\"Equifax\",\"valueTwo\":\"620\",\"valueThree\":\"720\"}},{\"column\":{\"valueOne\":\"TransUnion\",\"valueTwo\":\"771\",\"valueThree\":\"771\"}},{\"column\":{\"valueOne\":\"Experian\",\"valueTwo\":\"667\",\"valueThree\":\"714\"}}]'}\n::\n\nIn John's case, the middle score is 667 from Experian, so lenders will primarily use this score when evaluating his application. \n\nFor Dave, the middle score is 720 from Equifax, so this will be the score lenders use for him.\n\nWhen applying together for something like a loan, the score used will be the lower middle score between the two applicants. In this case, it would be John's 667. \n\nWhen assessing their application, debts from both John and Dave will be considered, regardless of whether both are occupying the property or if one is just a co-signer.\n\nA residential mortgage credit report (RMCR) goes a step further. It's not just a blend of the three reports but takes a close look at each of them. For instance, if there are differences between the bureaus' reports, the RMCR will explain why. It might also check employment and housing history to give lenders a clearer view of a borrower’s total financial picture.",{"title":744,"label":745,"content":746},"When do credit reports come into play in the mortgage process? ","When do credit reports come into play? ","Credit reports for a mortgage start out light and get heavier as you get closer to that stamp of approval. Here’s what to expect as you go through the process: \n\n* **Application stage:** Right off the bat, when you fill out a [mortgage application](/home-buying/articles/apply-for-a-mortgage), the lender will pull a credit report to peek into your financial history. This is the tri-merge we talked about, which gives the lender a summary of your [credit standing](/home-buying/articles/what-credit-score-do-you-need-to-buy-a-house). \n* **Further review:** If things look good and you move forward, the lender will request an RMCR. This is especially useful if you're self-employed or have a few dings on the credit roster as the RMCR helps lenders get the full story. \n* **Final approval:** Before giving the final thumbs up, your lender will use the details in the RMCR to make sure everything looks a-okay. It's their way of double-checking their risk before handing over the house keys. Fair enough.",{"title":748,"content":749},"What if I need to improve my credit?","Let's face it, not everyone has a [credit score](/home-loans/articles/how-to-buy-a-house-with-bad-credit) that’s above 800. If your score looks a bit rough around the edges, don't beat yourself up. You're not alone and you can improve that score until it impresses. Here’s how you can start turning things around:  \n\n* **Check for errors:** Yup, even credit bureaus make mistakes. So, grab a copy of your credit report and review it like a hawk. Sometimes, you'll find errors and, just like a typo on your resume, you'll want to correct it before it hurts your reputation. Incorrect information can drag down your score while fixing errors can give it a boost.  \n* **Pay down debt:** If your credit cards are screaming under the weight of high balances, it's time to ease their burden. Set yourself up with a budget and stay the course until balances are below 30% of your credit limits.  \n* **Keep old accounts open:** You might think closing an old credit account could improve your financial image, but it's actually the opposite. Think of your old accounts like fine wine—the longer it's been around, the better. Keeping them open can help lengthen your credit history, which is a plus in the eyes of credit scorers. \n\nRemember, improving your credit is a journey, not a sprint. It takes patience, persistence and a bit of financial elbow grease. You'll soon be on your way to \"excellent\" and closer to making big dreams come true. \n\nSo, there you have it—a simple breakdown of what a residential mortgage credit report is and why it matters when you're in the housing market. But remember, good credit does more than just open doors to dream homes. It paves the way for better loan [rates](/rates) and even new car purchases. In short, good credit says you're a reliable human (which you most certainly are.)  \n\nKeep it healthy, stay informed and see how many doors good credit can open!","2024-09-11T11:51:00.000Z","As a [first-time home buyer](/home-buying/articles/first-time-home-buyer) you may hear about a residential mortgage credit report—RMCR for short. So, where does this come into play and how can you use it to your advantage? We’ll break it down so you can put your best financial foot forward.","What's a residential mortgage credit report?",[754,706,704],"credit-score",{"introText":756,"text":679,"to":680,"body":757},"Ready to hit the housing market? ","We'll be right by your side.",{"title":759,"description":760},"Residential Mortgage Credit Reports (RMCR) Explained","Discover what a Residential Mortgage Credit Report (RMCR) is and how it differs from other reports. Understand its role in the mortgage approval process.","content:articles:home-loans:residential-mortgage-credit-report.json","Residential Mortgage Credit Report","articles/home-loans/residential-mortgage-credit-report.json",[721,725,765],{"label":766,"slug":754,"seo":767},"Credit Score",{"description":768},"Understand how your credit score impacts your ability to qualify for a home loan and how to improve it.",1775839821817]