Real Estate Alphabet Soup: U for Underwriting

By
Real Estate Agent with Samson Properties VA0225077251

Hey there! Here's another steaming hot episode of the Real Estate Alphabet Soup Series, where we learn more about Real Estate one letter at a time. Wondering how loans get approved? Today we'll learm more about it with our next letter in the series.

U for Underwriting

So you decided to buy a home, either by upgrading or downsizing, or possibly making an income out of it. And you decided to get a loan for the property so that you can get your dream home. Lenders will now check if you are worthy for the loan amount you're targeting, and this process is called underwriting.

After the pre-approval process by your lender, an underwriter will then ensure that you are qualified for the mortgage and would usually include a lot of paperwork. Make sure to be ready for those documents for a smooth transaction! You also want to ask your lender on what you have to expect in the underwriting process to make sure you have everything that you need.

Want to learn more about buying or selling a home and what you need to prepare for? Let's talk -- 703-625-4949 or visit my website at www.RituDesai.com for more information. Let's make your move today!

Posted by

 
                             
Associate Broker
MRP, ABR, ePRO

NVAR, Life Time Top Producer
NVAR,Multiple Million Dollar Sales Club Member
Samson Properties
Cell - 703-625-4949
Email - info@eNOVAHomes.com
Web: www.eNOVAHOMES.com
 
Residential real estate agent serving Northern Virginia in Fairfax & Loudoun county over a decade and almost $100+M in sales volume experience. 


 

Comments (1)

Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is good information to share with prospective mortgage borrowers.

Take care, be safe and have an outstanding day.

Oct 28, 2021 09:17 AM