Underwriting
Whether your file was sent electronically or by
overnight delivery, the lender will evaluate whether or not they
want to loan you the money. By going through the One Stop Mortgage
pre-approval process, we use our experience to select a lender who
typically loans money at the lowest rate to someone in your circumstances.
The lender will use their criteria to decide about
loaning you the money. This is called underwriting. Sometimes the
underwriter will ask for more information or documentation before
they are willing to approve the loan.
Your mortgage broker at One Stop Mortgage will
keep you informed of the status of your loan application with the
lender.
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