fbpx

What Is the Mortgage Underwriting Process?

Mortgage underwriting document with a blue pen and eyeglasses on the side

Underwriting is a process lenders used to assess risk before agreeing to approve a loan. The underwriting process verifies that the borrower’s property and the documentation all meet the lender’s requirements for the requested mortgage. A lender’s underwriter will typically verify the borrower’s income and check their credit score with the major credit bureaus.

The underwriter may request additional information on any items that stand out during this review. An appraisal is typically ordered to determine the true value and condition of the collateral property.

Also Read: Is Bridge Loan Right For You?

The history of the property’s past ownership is also researched to ensure that there are no unpaid liens and to verify the current owner of the property always responds, promptly, and honestly to any requests from your lender’s underwriter. Since the underwriter makes the final decision on whether to approve or decline alone.

Watch the video below:


Subscribe to our YouTube Channel for more Real Estate Free Videos

One of the reasons to call the Agardi Team if you want to buy a home or have one to sell is:

Not only do we sell our clients’ homes for more money and faster than the average area agent, but your home is also more likely to sell. According to 2015 MLS statistics, only 71% of area homes sold during their listing term. Compare that to our 95% of homes listed that sold before the end of the listing term. YOUR HOME SOLD GUARANTEED OR WE’LL BUY IT*


To discuss the sale of your home, call The Agardi Team at 718-755-2882 and start packing!

*Agardi Team and the seller have to agree on the price and the closing date.

Call Us @ 718-755-2882
%d bloggers like this: