To apply for a bank mortgage loan, first assess your financial readiness by reviewing your credit score, income stability, and debt-to-income ratio. Secure pre-approval from a lender to strengthen your home buying position. Gather essential documents such as pay stubs, tax returns, bank statements, and W-2 forms. Submit a formal mortgage application with the lender, who will initiate underwriting—verifying income, assets, and property details before finalizing approval. Close the loan by signing final documents and paying closing costs.

The structured process ensures lenders evaluate risk accurately, while pre-approval increases offer acceptance rates. For instance, a 2023 Fannie Mae study found pre-approved buyers were 50% more likely to secure loans within 30 days. Credit scores above 760 typically qualify for the lowest interest rates (3.5-4.0% as of Q3 2023), per LendingTree data. Underwriting delays averaging 45 days highlight the need for prompt document submission. Additionally, 30% of mortgage rejections stem from income documentation errors, emphasizing thorough preparation. Lenders also require a property appraisal (costing $300-$600) and title insurance ($500-$1,500) to mitigate default risks. These steps collectively reduce borrowing costs and ensure sustainable homeownership.