What does “underwriting” mean? How to deal with loan conditions

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Your mortgage application: underwriting and loan approval

Once you submit a mortgage application, it goes into underwriting. But what does underwriting mean?

Mortgage underwriters examine your application and documents to approve or decline your application
Computers can approve mortgages, but human underwriters must verify that your documents match the information on your application
Underwriters usually require proof of your income and assets and may have additional requests
Your approval is usually subject to conditions. These conditions can range from bank statements to tax returns to explanations about your credit. All conditions must be in and approved before you can close.

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