From Pre-Approval to Close — A Mortgage Timeline for Real Estate Investors

For real estate investors, time is money—and delays in financing can cost you a great deal (literally). Understanding the mortgage process from start to finish is key to making competitive offers, meeting deadlines, and growing your portfolio with confidence.

In this blog, we break down the full financing timeline, step by step, so you know what to expect and how to prepare for each phase.

1. Pre-Approval (1–5 Business Days)

The first step in the financing journey is securing a mortgage pre-approval. This gives you a realistic budget and makes you a stronger buyer when submitting offers. Lenders assess your income, credit score, debt levels, net worth, and sometimes your investment experience.

Pro Tips:

• Have your documents ready: T1s, pay stubs, property income, and tax statements

• Work with an investment-savvy mortgage broker

• Ask for a pre-approval letter that shows seller readiness

2. Conditional Approval (5–10 Business Days)

Once your offer is accepted, your broker submits the deal to a lender for conditional approval. The lender will review the property, your financials, and request additional documents. Appraisals and rent analysis often happen during this stage—especially for multifamily or income properties.

Common Conditions:

• Appraisal confirming value

• Proof of rental income (leases)

• Insurance quote

• Updated bank statements

3. Mortgage Commitment & Final Approval (5–7 Business Days)

After satisfying all conditions, the lender issues a final commitment and locks in your interest rate. From here, you’ll get official loan documents and a funding schedule.

At this point, it’s critical to avoid big purchases or financial changes that could impact your approval.

4. Legal & Closing (7–14 Days)

The last leg of the process involves working with your lawyer. They’ll:

• Conduct a title search

• Coordinate mortgage instructions with the lender

• Transfer the down payment

• Register the property in your name

  
  

Once everything’s signed and sealed, you receive the keys on closing day.

Final Thoughts

Understanding the full mortgage timeline—from pre-approval to keys in hand—helps you close confidently, avoid costly delays, and present yourself as a serious investor in competitive markets.

At Greenell Capital, we work closely with experienced mortgage professionals to help investors navigate financing challenges and build portfolios that perform.