The process typically starts with pre-approval, which can take just 1–2 days if you have your financial documents ready. Once your offer on a property is accepted and the full application is submitted, your file goes into underwriting. This is when the lender reviews your income, credit, assets, and other details. Underwriting can take a few days to a week and may involve follow-up questions or requests for clarification.

At Loankea, we do everything we can to keep the process smooth and fast — often achieving clear-to-close times of 7–15 business days post-contract, with most loans closing in 30 days or less.

You’ll typically need proof of income (pay stubs, W-2s, or tax returns), bank statements, identification, and details about your assets and debts. Self-employed borrowers may qualify using 12–24 months of bank statements instead of tax returns. Having these ready can significantly speed up pre-approval and underwriting.

For special cases: self-employed borrowers may provide profit & loss statements, DSCR loans use rental income, and foreign nationals may provide ITIN documentation.

The right loan depends on your credit score, income, down payment, and property type. Loankea’s experts review your situation and explain options like Conventional, FHA, VA, USDA, DSCR, and Non-QM loans, helping you choose the program that best meets your goals.

Yes. Pre-approval gives you a clear budget and strengthens your offer when you find a property. It also allows Loankea to identify the best loan program and interest rate for your financial profile before you start house hunting.

Pre-approval letters are generally valid for 60–90 days and can be renewed if your home search takes longer.

Yes. Options include state or lender-specific assistance programs, selecting the right loan type, and strategically timing your closing. Loankea’s team can review programs like down payment grants, CHFA initiatives, and other local incentives to help lower your upfront costs.