As I have mentioned in previous posts, the first thing you need to do is find a mortage officer that fits your personality and your needs.  Let him/her know that you are looking at property and need a "pre-approval" letter.  This will let you and your agent know what your price range is and will give you some negotiating leverage with the seller.

Now down to the loan application process and what will be happening over the next 30+ days!

1. You will fill out an loan application with your lender and you will need the following information when you meet, your sales contract, at least 2 pay stubs, 3 months of bank statements.  The Lender will order your credit report, you will select your loan type, and you will be given a good-faith estimate of closing cost.
2. A hazard certificate will be ordered showing whether you will need flood or earthquake insurance if it is required by your state.
3. The appraisal will be ordered and completed with 3-14 days of the application and delivered to your lender. 
4. You or your Realtor will order the inspection to be completed before the end of the option period stated in your sales contract. Be sure and check with your lenders which inspections he/she will need.  Some require more then just a home inspection.
5. At this point your loan should go to Underwriting where the lender will verify that the loan complies to all the guidelines and decides that they can approve the loan.  This can take 14-25 days after the loan application.
6. The contract will have been receipted with a title company and a title search should be completed with 15-27 days of the contract date. Your agent will examine this report with you to make sure that there are no encumbrances or issues. Schedule B is where you will find the exceptions that will not be covered by the title policy.
7. If a survey it will be ordered and completed within 5-25 days of contract date.
8. Mortgage insurance is ordered within 15-27 days of the loan application and is required if your loan-to-value exceeds 80%. Hopefully lender will have an in-house mortgage insurance provider or you could be looking at additional days for the file to be reviewed by a mortgage insurance company.
9. Final Information Verification will happen 4-5 days prior to closing.  This is the final review to confirm that all requirements have been met and the loan is ready to close.
10. Documents will be drawn and sent to the title company.
11. Finally, closing. You will have an appointment at the title company where you will sign many documents :), usually your Realtor will be with you, sometimes your mortgage rep.  And as soon as funds have been distributed you will be the proud owner of a home or property. Congratulations!