Here’s What Happens When Your Mortgage Loan Is Sent to Underwriting

The process of getting pre-approved for a home loan is the first step to buying a home. After being pre-approved and making an offer, the loan will go to underwriting. During this process, an underwriter will assess the risk of the loan by thoroughly reviewing the borrower's financial credentials. This includes pay stubs, tax returns, proof of income sources, bank statements, credit reports, and more. The underwriter's goal is to determine whether the home is worth enough to serve as collateral, if the borrower has enough income, and if they are likely to be a responsible borrower. The underwriting process can take