Step 9: Final Loan Approval and Clear to Close
You're almost at the finish line. Now it’s time for your lender to finalize everything and give the official green light—your 'Clear to Close.'
This step involves a detailed review by your lender’s underwriting department to confirm that nothing has changed since your pre-approval. Even though you’ve already submitted documentation, this is the final check.
What Underwriters Review:
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Credit report (again!) to make sure you haven’t opened new debt or missed any payments
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Employment and income verification (sometimes reverified just before closing)
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Bank accounts to confirm your down payment and closing funds are still there
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Appraisal and inspection reports for any lender-required repairs or conditions
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Updated documentation if any numbers or life situations have changed
Common Roadblocks Before Closing:
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Making large purchases (like furniture or a car) that change your debt-to-income ratio
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Job changes or bonus income that wasn’t documented correctly
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New inquiries on your credit report that raise red flags
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Transferring large sums of money between accounts without a clear paper trail
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Delayed paperwork from third parties (title companies, employers, insurance)
Final Steps Before Closing Day
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You’ll receive a Closing Disclosure with all final numbers at least 3 days before closing.
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Review all fees and payments with your lender or agent.
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Schedule your final walk-through of the property to ensure it’s in expected condition.
Pro-Tip
Even if you’re excited, avoid making any financial moves or career decisions until after closing. The deal isn’t done until the documents are signed and funds are wired.