Begin Your Property Loan Journey
- Past Lesson 7.3 Keepin Constantly Your Loan on the right track
- In this training
- Phases of Underwriting
- The Underwriter’s Job
- Underwriting Results
- Underwriting Conditions
- Next Lesson 8 Closing In Your House
Phases of Underwriting
Purchasers go into the very first phase of underwriting during preapproval.
VA loan providers generally count on an “Automated Underwriting System, ” or AUS, to determine a preapproval status that is buyer’s. An AUS is a pc system that immediately evaluates a buyer’s eligibility, centered on a number of facets.
Its not all qualified debtor will get AUS approval. Continue reading Underwriting functions as the last overview of a borrower’s loan file.