"Congratulations, your loan is APPROVED!"
Approval means the underwriter has reviewed your documentation and issued a conditional commitment to lend. There are two types of conditions: “prior to” or “at closing/funding”.
“Prior to closing” conditions can be simple updates to docs already collected, standard items (such as proof of insurance) or a request for additional information. These conditions must be met prior to funding and are subject to the underwriter’s review.
“At closing” conditions are typically standard items such as clear title or signatures on documents. They may also be based on timeliness, such as closing prior to a rate lock or document expiration date.
We will notify you of any documents that need to be provided right away. As always, please don’t make changes to your credit, income, marital or financial status unless you check with us first. Thanks!