Mortgage Glossary
Underwriting
The lender's process of verifying your finances and approving the loan.
Underwriting is the process a lender uses to assess the risk of lending to you and to verify the details of your application.
An underwriter reviews your income, assets, credit, the property appraisal, and program guidelines to issue an approval, conditions, or a denial.
Star Financial underwrites in-house, which can speed up decisions and provide more certainty during your transaction.
Frequently asked
How long does underwriting take?
It varies by file, but in-house underwriting often allows faster decisions than loans sent to outside investors.
What does 'conditional approval' mean?
It means the underwriter approved your loan subject to providing specific additional documentation or clearing certain items.