To obtain keys after paying a down payment, follow these steps: 1) Secure mortgage approval post-approval letter, 2) Complete property appraisal and title search, 3) Schedule final walkthrough, 4) Attend closing with proof of funds and insurance. Lenders issue keys during the closing ceremony after signing final documents. delays often occur due to underwriting revisions (15% of loans in 2023) or title disputes (8% of transactions).

The process ensures financial readiness and property validity. Mortgage underwriting verifies borrower stability (Fannie Mae requires 620+ credit scores), preventing default risks (30% of foreclosures stem from income misrepresentation). Appraisals prevent overpayment (Zillow data shows 7% average undervaluation in 2023), while title searches eliminate liens (3.2 million claims resolved annually by the American Land Title Association). Closing formalizes ownership transfer, with 90% of transactions completing within 30 days if documents are pre-approved. CFPB reports highlight that 65% of delays occur during underwriting, emphasizing thorough preparation to secure keys efficiently.