How It Works · My Mortgage Company
The Loan Process — Step by Step
We make the mortgage process simple and transparent. Here is exactly what happens from your first conversation with Omar to the day you receive your keys.
Pre-Approval
1–3 days
Home Search
Varies
Loan Processing
1–2 weeks
Underwriting
3–5 days
Closing
1–2 days
The Journey
Five Stages from Application to Closing
Most purchase transactions in Kern County close in 21–30 days from the date you go under contract.
Pre-Approval
Submit your mortgage application and authorize a credit pull. We review your credit score, income, employment history, and assets to issue a pre-approval letter with your maximum purchase price and estimated payment.
What Happens at This Stage
- Soft credit pull for initial review
- Income and employment verification
- Pre-approval letter issued — valid 60–90 days
- No commitment to lend at this stage
Property Selection
Shop for your home with confidence knowing your exact budget. Work with your real estate agent to find the right property — if you need a referral, our sister company My Realty Company can help.
Find a real estate agentWhat Happens at This Stage
- Use your pre-approval to make competitive offers
- Omar can answer loan questions during your search
- Pre-approval letter can be reissued at different purchase prices
- Need a real estate agent? Visit myrealtyca.com
Loan Processing
Once you are under contract, we shift into high gear. We collect final documents, order the appraisal, verify your employment and assets, and submit your complete loan file to underwriting.
What Happens at This Stage
- Final document collection (pay stubs, bank statements, ID)
- Property appraisal ordered — typically takes 5–10 days
- Title search and title insurance ordered
- Homeowners insurance confirmation required
Underwriting
A licensed underwriter reviews every aspect of your file — your financials, the property, and the appraisal — against program guidelines. They issue either an approval, conditional approval, or suspension.
What Happens at This Stage
- Underwriter reviews all borrower and property documentation
- Conditions may be issued (e.g., a letter explaining a deposit)
- Conditions are cleared quickly with proper documentation
- Clear-to-close (CTC) issued once all conditions are satisfied
Closing
You sign your final loan documents at the title company or escrow office. The lender funds the loan, the seller is paid, and the deed transfers to your name. Then you get your keys.
What Happens at This Stage
- Review and sign loan documents at escrow
- Wire or certified check for any remaining cash-to-close
- Loan funds — typically same or next business day
- Deed records with the county and keys are released
Be Prepared
Documents You Will Need
Having your documents ready before you apply speeds up every stage of the process. Self-employed borrowers will have a different document set — ask Omar about our Bank Statement loan program.
- Two most recent pay stubs
- Two most recent W-2s (or 12–24 months of bank statements if self-employed)
- Two months of bank statements (all accounts, all pages)
- Government-issued photo ID
- Social Security number (for credit authorization)
- Contact information for landlord or current mortgage servicer
- VA Certificate of Eligibility (VA loans only)
- Signed purchase contract (once under contract)
- Homeowners insurance binder (prior to closing)
Ready to start?
Get your pre-approval in as little as one business day and take the first step toward owning your home in Bakersfield.
My Mortgage Company, Inc. · CA DRE #02168831 · NMLS #2269164 · Broker: Omar L. Ortiz, NMLS #951384, DRE #02056548. Licensed by the California Department of Real Estate. Loans subject to credit approval. Not all applicants will qualify. Interest rates and program availability subject to change without notice. All figures, rates, fee ranges, and examples shown on this page are for informational purposes only and are not a guarantee of rates, fees, loan terms, or qualification. This is not a commitment to lend.