Once your mortgage is underwritten, you are almost ready to move in.
27. Get Your Loan Underwritten
For the home closing to go through, your loan has to get underwritten by the mortgage company. This means that they have to actually release the funds to the seller and hold you legally responsible for the repayment.
If you did all of your homework at the beginning of the process, then there won’t be any surprises here. However, if there were things hidden from your credit report, if your job or marital status changed, or if you made any big purchases from the time you got pre-approved, your loan may not get underwritten. Meaning, you got to the end of the process but will not be able to close on the home.