topic Re: Preliminary underwritten passed in Mortgage Loans

Preliminary underwritten passed

tooleman694 — Thu, 20 May 2021 17:58:26 GMT

Heard back from the LO and he said we passed preliminary underwritting. We got a list of super easy conditions, and waiting for the appraisal to come back before we go into final underwritting.

I am trying to understand where that puts us in the process.

Re: Preliminary underwritten passed

House2021 — Thu, 20 May 2021 20:54:48 GMT

Congratulations that all sounds good

Re: Preliminary underwritten passed

Anonymous — Fri, 21 May 2021 18:38:46 GMT

Congrats! Complete the list of conditions quickly so it gives time for any additional conditions to come about and be resolved. You don't want to be resolving conditions a day or two before closing. Once you satisfy the prelimary conditions for the Loan Officer, your file is then sent to the underwriter for the final set of eyes. More conditions could come about at this time, unless your loan officer did his/her job well enough to make sure all the required information and documents are present.

I was lucky enough to have a really good broker who fielded all questions and conditions directly for me until it was a condition that required my intervention, like obtaining a document etc. So the final process of underwriting went really smooth for me.

I wish you good luck through your mortgage process!

Re: Preliminary underwritten passed

4sallypat — Sat, 22 May 2021 14:46:50 GMT

We got a preliminary desktop UW pre-approval from Better.com in a day and then come to find out many sellers (seller agents) will not take this for an offer.

We then had to ask Better.com to do a full UW loan approval package to satisfy the seller's agent in accepting our offer.

Better.com is taking over 2 weeks now asking this and that - employment vefication taking the longest...

Our real estate agent was not surprised at this request since the market is going bonkers here in California.

Re: Preliminary underwritten passed

babygirl1256 — Mon, 24 May 2021 04:53:10 GMT

@tooleman694 Congrats pn your preliminary approval . . . Please don't make any major purchases until AFTER you close as that's typically a stickler for mortgage processing!!!