The quick answer
The strongest transactions begin before the offer. The Realtor identifies the buyer's goals and property plans; the loan officer reviews financing and documents; the buyer supplies accurate information and avoids material financial changes. After contract, all three communicate about deadlines, property issues, documentation, appraisal, insurance, and closing.
Stage 1: financing conversation before showings
Introduce the loan officer when the buyer becomes serious, not after a property is selected. A preapproval is tentative, not a guarantee, but it can identify price range, cash needs, loan options, occupancy, income-documentation concerns, and property types that need special review.
Realtors should share likely property taxes and HOA dues because these affect total payment estimates. Buyers should understand that changing price, property type, rate assumptions, or debts can change the result.
Stage 2: write a finance-aware offer
Before the offer, confirm the preapproval still reflects the proposed price, down payment, program, occupancy, association dues, and closing date. Condo, manufactured-home, acreage, mixed-use, new-construction, renovation, and investment transactions may require questions beyond borrower approval.
Contract terms remain legal and negotiation matters for the Realtor and appropriate advisers. The lender can explain financing timing and requirements but should not give legal advice.
Stage 3: application, disclosures, and underwriting
Once the lender has the information constituting an application under federal disclosure rules, the Loan Estimate is generally due within three business days. That disclosure is not approval. Processing verifies income, assets, credit, property, title, insurance, and program-specific conditions.
A clear update rhythm helps: confirm milestones, identify who owns the next task, and communicate risks without forwarding private borrower documents to people who do not need them.
Stage 4: appraisal and property review
The appraisal supports the lender's collateral analysis; it is not a home inspection. A low value, repair requirement, condo-project issue, insurance problem, or title concern may require decisions from the parties. Realtors can help by providing accurate property information and relevant comparable-sale context through the permitted process.
Stage 5: final approval and closing
Final approval depends on satisfied conditions and re-verification where required. Buyers should avoid new debt, unexplained transfers, employment changes, or large purchases without first discussing possible effects.
The buyer should compare the Closing Disclosure with the latest Loan Estimate and ask questions before signing. Do not use 'clear to close' as permission to stop communicating; confirm funds, identification, closing logistics, and any last conditions.