Buying or refinancing a home is exciting but it also comes with important steps, documents, and timelines. Understanding what happens behind the scenes can make the experience feel organized and predictable instead of overwhelming.
Here’s a simple breakdown of the process:
Before you make an offer (purchase) or at the start of a refinance.
This is where everything begins. You’ll provide income, asset, and credit information so your lender can determine your loan options and price out payments.
For buyers, a strong pre-approval makes your offer more competitive. For refinances, this step confirms savings, rate options, or cash-out potential.
Within 3 business days of submitting a completed application.
This standardized document helps you understand the total cost of your loan upfront and compare options clearly.
Usually within 7–10 days after your offer is accepted.
Missouri does not legally require inspections but they are highly recommended.
An inspection evaluates the property’s condition, including structure, roof, HVAC, plumbing, and safety items. If issues are discovered, buyers may negotiate repairs or credits.
After you sign initial disclosures and authorize the appraisal typically within the first 2–3 weeks of a purchase contract.
The appraisal determines the home’s fair market value. In Missouri, appraisals must be completed by a state-licensed appraiser.
For refinances, the appraisal determines how much equity you have available.
Shortly after contract acceptance (purchase) or early in the refinance process.
A title company reviews public records to confirm:
Missouri is a title insurance state. At closing, you’ll receive:
Title insurance protects against hidden issues such as recording errors, unknown heirs, or undisclosed liens.
After appraisal and documentation are submitted.
Additional documentation may be requested. This is normal and part of making sure the loan meets guidelines.
At least 3 business days before closing. (Required by federal law.)
The Closing Disclosure is the final version of your loan terms and exact closing numbers. This mandatory waiting period ensures you have time to review everything before signing.
Typical timeline: 30–45 days after contract acceptance.
On closing day, you’ll sign several key documents specific to Missouri real estate.
This document transfers ownership from the seller to you.
Missouri commonly uses a General Warranty Deed, which guarantees the seller has clear ownership and the legal right to transfer the property. This deed is recorded with your county’s Recorder of Deeds office.
This document:
If the loan is not repaid, Missouri law allows the trustee to initiate foreclosure procedures on behalf of the lender.
If you refinance your primary residence, federal law provides a 3-business-day Right of Rescission.
This means:
This does not apply to purchase transactions.