What Does Underwriting Mean For The Mortgage Loan?

September 29th, 2009 by Home Loans Leave a reply »

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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  1. bbwebpup says:
    September 29, 2009 at 11:40 am

    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.