Indexed vs Search Results

Hello everyone ... great forum!

I have a new site I did for my niece (http://www.san-diego-mortgage-loans.com) and I applied all of the SEO techniques I've learned (title, description, key words, h1 header, key word density, site map, alt, text navigation at the bottom ... not sure what else) and I submitted the site. It indexed every page right away, but I can't find the site for the key word phrase (san diego mortgage loans) when I do a search.

The only thing I know I'm missing is inbound links and I'm still debating on submitting to a directory service (I've been following the threads here).

Does it take longer to show up in the search engines than it does to be indexed? In other words, if it's indexed, would it already show up where it feels the site belongs as far as search relevance?

Any help or opinions would be greatly appreciated!

*SmiLes* Suzanne