When your purchase agreement is first received, your loan will go to underwriting for initial review. During this time underwriting will be looking at your employment history, income, assets, debt, purchase agreement, etc. They will look to see if any additional documentation is needed or if clarification is needed on some items. You may be asked to send additional documentation to your loan officer. Documentation is always a case-by-case basis and varies off many things including the property, loan type, and most importantly you. An experienced loan officer can make an educated guess on all the documentation underwriting will need and try to collect everything before the initial submission.

After the initial submission your loan will either be approved, conditionally approved, or denied. If your loan is conditionally approved, that usually means underwriting just needs more documentation, clarification or waiting on an appraisal or title work. Once everything is received your file will be resubmitted to underwriting.