When you apply for a mortgage, there are a variety of people involved in evaluating and processing your application. Today, Amerifund Loan Officer Cesar Silva examines the job of one of those people, the underwriter.

Transcript:

Buying a home is exciting! You’re about to make one of the most important purchases of your life and you should know what your financial picture looks like when you get started.  Credit, income, debts, work-history, and assets will all be considered by the lender to make sure you can afford the payments before they fund your loan.

The lender will have an underwriter analyze your ability and likelihood of keeping up with your monthly payments. They’ll look into your financial history, and may also order an appraisal to insure you’re not paying more than the home is worth.

The underwriter has the final decision to approve or decline your loan, and in some cases they may even suspend it to require additional documentation. Meanwhile, your loan originator and processor will be the ones working on your behalf, so make sure to get them any documents they need as soon as you can so they can help get your loan approved and move you into your new home!

I hope this helps, and as always, if you want to learn more, you can visit us anytime at Amerifund.com. Thanks for watching!

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