May
30
Bill T
My mortgage loan has been approved, but I have to wait for an underwriting at this point. Can you explain what does it mean?
My mortgage loan has been approved, but I have to wait for an underwriting at this point. Can you explain what does it mean?
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One Response to “What does underwriting mean for the mortgage loan?”
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Underwriting is the process where a person at the lender goes about matching up all the qualifying documents, like your W-2’s, credit report, appraisal, bank statements, employment verification, etc. to the loan guidelines. Once they are sure that the initial info you supplied is true and fill it in with everything the lender needs to verify to be sure you can pay the loan back, they will fund your loan.