Mortgage underwriting question.
May 12, 2014 7:57 AM Subscribe
I am buying a house for the very first time (Virginia, US), and I have a question about the mortgage underwriting process. We have made it through the home inspection, and we are conditionally approved for the mortgage. We are currently waiting for the results of the mortgage appraisal and then, my loan officer tells me, that the mortgage will be resubmitted to the underwriter. I'm not sure exactly what this means.
I guess what I'm asking is how the underwriting process is different after receiving the mortgage appraisal than was before. In other words, are they examining my finances again like they did before, or they doing something different? Any help or insight would be appreciated.
Thanks, as always.