Here’s your mortgage game plan
Whether you choose a conventional, jumbo, or government-backed loan, the mortgage process follows the same basic steps. At no point will you be on your own. We'll be here to guide you along the way.
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Before you go
Prequalification
Learn how much house you can afford. Let's look at your income, assets, debts, and past credit use to get a general idea of how much you could borrow. Then, you can start shopping in your price range.
Preapproval
Next, your home loan advisor will work with you to collect all of your documents to complete your application. Your mortgage preapproval will show the exact amount you can borrow, and it's good for 90 days.
Loan review
Our underwriters can get started before or after you find the property you want to buy. They'll issue a conditional approval identifying specific requirements to meet before approving your loan and clearing it to close.
Final approval
You're in the home stretch now. For final approval, we'll need all the details, including information about the property. Once the paperwork looks good, it's time to schedule a closing for your mortgage.
Closing
Closing is the time to sign your mortgage documents. Bring a valid ID and the certified funds listed on your Closing Disclosure, such as your down payment, closing costs, and any prepaid items. Congratulations!
Do the math (the easy way)
Use our home loan calculators to break down the costs of buying a new home. How does a higher or lower down payment affect your monthly payment? Should you get a fixed or adjustable rate mortgage? Play around with different scenarios so you can make informed decisions about your home loan.
Your new home awaits. Apply today.
Start the mortgage process in whatever way is convenient for you. Whether you're just starting to look or ready to buy, we're here to help from now through closing and beyond.
Apply online
Start your loan application here. Don't worry—if you get stuck, we're just a phone call away.
Speak with a loan advisor
We'll help you find the right loan, start your application, and answer your questions.
Find a loan advisor
Connect with a local expert and meet remotely or at a nearby branch. We'll guide you through the entire home loan process.
Why choose Flagstar?
A mortgage is more than a monthly payment. It’s the foundation of your financial future, giving you peace of mind today while still leaving room for other goals. Flagstar will help you find the right financing for your life from our full range of solutions, including jumbo and government-backed mortgages and home equity lines of credit. Whether you’re buying a home, refinancing, or tapping into your home’s equity, you can count on our decades of experience, make-life-easier technology, and simple application to support you.
Best Mortgage Lenders for First-Time Homebuyers
Forbes, 20251
Best Mortgage Lender Overall
NerdWallet 20242
Simple Application Process
Apply online or over the phone
Expansive Product Set
Competitively priced conventional, government, and specialty solutions
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Programs for qualified borrowers. All borrowers are subject to credit approval, underwriting approval, and product requirements, including loan to value, credit score limits, and other lender terms and conditions. Fees and charges may vary by state and are subject to change without notice. Some restrictions may apply. Not a commitment to lend. A loan advisor will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.
Pre-Qualification request is an inquiry only, not an application for credit or a commitment to lend and does not guarantee loan approval or denial. This prequalification provides you an estimate of how much you may be able to borrow based upon a preliminary review of your credit history, income, and assets. For a credit decision, you must submit additional information for review and approval. Interest rates and loan program guidelines are subject to change without notice.
A preapproval is an initial determination of an applicant’s ability to borrow up to a certain amount. It is based upon certain assumptions resulting from an initial review of incomplete credit information criteria. A preapproval is not an approval of a completed application nor is it a commitment to lend or a guarantee of any particular loan product, features or terms. Final loan approval follows a comprehensive analysis of an applicant’s creditworthiness, the satisfaction of all product-specific underwriting requirements and conditions and property acceptability and eligibility.
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