When you’re working with a mortgage lender to get pre-approved for a home loan, the term “underwriter” may come up in some of your conversations. What’s the difference between a loan officer (lender) and an underwriter?
A mortgage lender will work with you to determine your loan needs and help you to decide which loan would work best for you and your financial situation. They will walk you through the initial process, applications, loan closing, etc.
An underwriter typically works closely with the mortgage lender (in more of a behind-the-scenes position) to review all documents and qualification criteria to ensure the loan is sound. The underwriter has the final say and responsibility for the loan. Both of these roles are crucial in the buying process to make sure you can get approved for a mortgage.
If you’re looking to purchase a home in the near future, meeting with a loan officer is the perfect first step. Reach out to me & I will help connect you with one of my local preferred lenders!
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