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What happens after you apply for a mortgage?


If you’re thinking about buying a new home, submitting a mortgage application is one of the biggest steps you’ll take.

Before completing an application, however, it’s important to understand what happens right after you click “submit.” This will ensure that you don’t have any surprises and are prepared for the next steps in the homebuying journey.

A credit report will be ordered

It is common practice in the lending industry for a credit report to be ordered with a mortgage application. This is considered a “hard inquiry,” which will typically have a minor negative impact on your credit score. You should be able to bring your score back up fairly quickly once you start making mortgage payments, so long as you regularly pay on time.

Your information may end up on a “pre-screen” list

The national credit bureaus — Experian®, TransUnion® and Equifax® — regularly sell “pre-screen” lists to lenders for marketing purposes. If you’ve been shopping for a mortgage, you may end up on a list, because your activity is a signal to other lenders that you could be interested in their products. This is done by the credit bureaus outside of your bank’s control (Bremer’s privacy policy states that we do not sell personal information). The lists will contain your name and address but not your full credit file.

Don’t be surprised if you receive more loan solicitations in the mail or via phone calls and emails as a result. You may decide to review the ads to see what’s being promoted, but if you don’t want to receive these messages, you can remove yourself from the lists at or by calling 1-888-382-1222. You may also want to consider adding yourself to the National Do Not Call Registry to further restrict lender solicitations.

Lenders will consider your application

Once your application reaches a lender, they’ll review all your materials and decide if you qualify for the loan.

A mortgage offer is just that — an offer. You’re not tied into anything until you agree and sign. An offer may be valid for three months or more, so you can take some time to decide. Just make sure to read carefully about any decision deadlines.

If you find a mortgage you’re comfortable with, signing the offer will lock you in and allow you to move forward in the homebuying journey. Have additional questions about the mortgage process or want to see some available options? Connect with a Bremer mortgage specialist today.