Process
Origination
The process of creating a new mortgage loan, from application through funding. Origination involves gathering your financial documents, running credit checks, ordering the appraisal, underwriting the loan, and preparing the closing documents. The loan origination fee covers the lender's costs for this work. The entire origination process typically takes 30 to 45 days from application to closing.
Why It Matters
Origination is one of the steps you will encounter on the path from house hunting to holding the keys. Knowing what to expect at each stage reduces stress and helps you make better decisions under time pressure.
Stay organized and communicate proactively with your real estate agent, lender, and other professionals involved in origination. Delays and misunderstandings at any step can push back your closing date or cost you money.