After your lender has approved your mortgage and you accept the commitment letter, the next step is to set a closing date. Many times, your real estate sales professional coordinates the setting of this date with you, the seller, the closing agent, and your lender.

You may be able to move up the time frame for your closing by working with a lender who uses Desktop Underwriter® -- our advanced automated underwriting system -- because it can cut the time it takes to process your mortgage.

Remember, you need to ensure that the closing occurs before your lender's commitment letter -- and the rate lock-in, if there is one -- expire. You can now finalize your moving plans.