Underwriting

The lender's formal evaluation of your loan application — credit, income, assets, and the property — to decide whether to approve.

Underwriting is the loan-decision process. The underwriter reviews your credit report, income documentation, asset statements, and the property appraisal to determine if the loan meets program guidelines. Conditions are issued for missing items or clarifications. "Clear to close" is the underwriter's final approval, usually after all conditions are satisfied. Underwriting typically takes 3-10 business days depending on file complexity and lender turn time.