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I'm freaking out? What does it mean when my lender says my file is 'in underwriting'?
Key Takeaways
- Underwriting is the review process where a professional evaluates your complete loan application.
- The underwriter may request additional documents to verify your finances.
- The process typically takes days to weeks depending on your situation.
What does it mean when my file is in underwriting?
Your lender told you that your file is in underwriting, and you want to know what that means for your loan. Underwriting is when a mortgage professional reviews your entire loan application to decide whether the lender will approve your loan. The underwriter looks at your income, credit, assets, and the property details to make sure everything meets the lender's guidelines. This step typically happens after you submit your full application and all required documents.
The underwriter might ask for additional paperwork if they need to verify something or want more details about your finances. Common requests include recent pay stubs, bank statements, or explanations for large deposits. The process usually takes a few days to a couple of weeks, depending on the lender and how complex your situation is. You can ask your loan officer for updates and let them know if anything changes with your finances or employment while your file is being reviewed.
About the Author
Dan Green
20-year Mortgage Expert
Dan Green is a mortgage expert with over 20 years of direct mortgage experience. He has helped millions of homebuyers navigate their mortgages and is regularly cited by the press for his mortgage insights. Dan combines deep industry knowledge with clear, practical guidance to help buyers make informed decisions about their home financing.
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