Underwriting is the stage of the loan process that borrowers find most stressful — and usually the one they're least prepared for. Understanding what's happening and why makes it significantly easier to navigate.
What is underwriting?
Underwriting is the lender's formal review of your loan application before issuing final approval. The underwriter — an employee of the lender, not your broker — independently verifies everything you submitted: your income, your assets, your debts, your credit history, and the property itself.
Think of it as the lender doing their own homework. Your broker submitted the file; now the lender is checking every claim in it.
How long does it take?
The single biggest factor affecting underwriting timeline is how quickly and accurately you respond to document requests. Underwriters work multiple files at once. When they request something and you take days to respond, your file moves to the back of the queue.
What will the underwriter ask for?
Underwriters verify almost everything. Common requests include:
- ✓Additional pay stubs or bank statements to verify income
- ✓Explanation letters for unusual deposits, gaps in employment, or credit inquiries
- ✓Updated documents if the originals are now more than 30–60 days old
- ✓Verification of assets — proof that your down payment funds are in your account
- ✓Property information — title, community lease, or land details
The valuation happens during underwriting
At this stage your broker may also order an appraisal of the home. For chattel loans — an appraisal may not be needed if the home's NADA value books out. For manufactured homes on private land — an appraisal will be required.
How to get through underwriting smoothly
- 1Respond to every document request within 24–48 hours
- 2Provide exactly what's asked — not more, not less
- 3Don't make any major financial changes — no new credit, no large deposits without documentation, no job changes
- 4Stay in close contact with your broker — we'll alert you the moment a request comes in
Questions about the process?
Call us before you apply — we'll walk you through every stage so nothing catches you off guard.
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