Information in simple English

What is mortgage underwriting process?

The mortgage underwriting process determines if the borrower is capable of paying back the loan.

This process reviews the borrower's pay stubs, W-2, credit scores, etc to assess how risky it would be to lend money to the borrower.

This assessment also depends on what is the mortgage amount the borrower is asking for and what is the market value of the property.

The mortgage underwriting process is the next step after the pre-approval of the loan.

This process usually takes a few days to weeks depending on how fast your lander processes the application.