LOAN APPROVAL

     When the underwriter has reviewed your file, he will approve the file and send it to the closing dept. Loan approval is the full final approval to get your property closed.

     Sometimes, the loan approval is conditional on your providing documentation that your previous home has closed or a receipt of a paid account. Either way, loan approval moves you one step closer to owning your property.

One of the major factors that lenders consider when approving your loan is your credit score. A new report has been written which gives you the pros and cons regarding this time saving factor . The report, "How Credit Scoring Affects Getting A Loan… and What You Should Know" will show you why a good credit is great, but a poor credit score can be worse than you think.