US bank has a pretty concise video on
Step 1: Prequalification: Find out how much home you can afford.
Step 2: Preapproval: Once your documents are submitted, the lender will work on getting your loan approved.
Step 3: Final approval: After all documents are submitted, the subject property is chosen, and any outstanding conditions are met, your lender will be able to issue the final approval and close your loan.
Find out the mortgage rates you qualify for today. Get Customized rate.