FHA Loan
Underwriting Process
...............................................................................Once your file has been submitted to the investor, it will be underwritten.
This is when an underwriter will review your file and render a loan decision. This portion
of the loan normally take 2-5 days.
The underwriter will review of the information and make sure that it
conforms to the guidelines that FHA has set forth. The underwriter will review all of the
following aspects of the file:
- Savings / Source of Money for Down Payment
Once the underwriter have reviewed all of the file provided, they
will issue a writing decision. This may be one of the following:
- Approved - everything is file meets FHA
guidelines for final approval
- Suspended - additional documentation is needed to
issue final approval
- Denied - aspects of the file do not conform to FHA
guidelines
The underwriter will then issue a written loan approval, with any
additional items documents that may need to be provided. This items are called
"Conditions". A loan may be approved but still require updated
"conditions" or items.
There are two types on conditions:
- Prior to Loan Documents - These are items that must
be provided and reviewed by the underwriter before the loan documents can be requested.
- Prior to Closing - These are items that must be
provided and reviewed by the underwriter and/or loan funder before the loan can close.
Once the underwriter or loan funder has received this conditions,
they typically require 24 hours to clear them before we can order loan documents or fund
the loan.
If your file meets most FHA guidelines initially, your file will be
electronically underwritten for approval. This type of underwriting uses a computer and
artificial intelligence to issue a decision on your file. The underwriter will simply
review all of the information provided to insure that it matches to the information
provided to obtain the electronic loan approval.
This is the type of underwriting we at FHA-Home-Loans.com, Secure Funding, provide for most clients, enabling formal loan approvals within minutes.
Learn more about
 FHA
Loan Approval
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