Mortgage Blog

How to get a home loan

Jim Quist is the president and founder of NewCastle Home Loans. He has 20+ years of mortgage lending experience as a business owner, mortgage underwriter, and loan officer. Jim's goal is to help people buy homes.

Jim Quist is the president and founder of NewCastle Home Loans. He has 20+ years of mortgage lending experience as a business owner, mortgage underwriter, and loan officer. Jim's goal is to help people buy homes.

We’ve submitted all conditions, now what?

You’ve given the underwriter your social security number, provided bank statements and explanations for every deposit to your account over the last ten years, emailed a thousand pages of tax returns and W2s dating back to when you first entered the workforce, and now you’re being asked to provide a blood sample and promise your first born child (and you don’t even plan on having kids!), in order to be approved for a mortgage…what gives?!

If this sounds familiar, you’re not alone. The entire loan process can be rather confusing, all of the back and forth, trying to figure out where you are at in the process and wondering if you’ll ever actually get to close.


We have just been through the underwriting process. Our loan has conditional approval from the underwriter. We have turned in all of our conditions as of Friday. To be a little more clear, we have been back and forth with the processor to get exactly what the underwriter needs. We all feel confident that what we turned in should meet the final demands of the conditions.

How certain is it that we will pass through underwriting and move to the closing process, once the underwriter reviews what we submitted? My wife and I have been wondering if it’s pretty much a sure thing because we turned in everything that was asked for or if meeting the conditions is just what it takes to get it to the underwriting? Is there still a good chance that we may not get the loan?

Also, we have been using our credit card recently and my wife thinks it may hurt our chances of closing our loan. Any truth to this?


The underwriter has completed the initial review of your loan application and issued a conditional approval along with a set of conditions that need to be satisfied before a final approval can be issued and you can move to the closing process. You have given all of the information and documents that were requested in order to satisfy these conditions and now the underwriter is reviewing everything. As long as the information provided to the underwriter is complete and does not raise further questions, a final approval will be issued. However, more often than not, additional information leads to additional questions.

For example, the underwriter requests a bank statement to verify you have enough money to pay for closing costs and the down-payment on your new home. You submit a statement verifying that you have $75,000 in the account and on the transaction history there is a large deposit, that equals more than 50% of your monthly gross salary. When the underwriter reviews this they are going to issue a new condition condition asking you to explain and document where that money came from. And your loan will not receive a final approval until the new condition is satisfied.

I know that it can be frustrating from a borrower's perspective when you think you've given everything requested and then the underwriter comes back and asks you for additional documentation. But don't let those requests cause you any stress. The sooner you send the documents, the sooner you'll have a final approval.

It typically takes about 48 hours to get an updated approval once you've turned everything in. As long as the process doesn't drag on for weeks and you feel like your Loan Officer and processor are answering your questions and keeping you in the loop, you will be fine!

If the underwriter does come back with additional conditions, feel free to post them if they do not seem to make sense and I will gladly try to explain the reasoning behind each one!

With regards to using credit cards during the loan process - As long as you have not opened up a new credit card account and have only been adding to the balance of an existing credit card, it will not affect your loan. Lenders monitor your credit during the loan process to see if you've opened new accounts and acquired new debt, but they do not track the balances on existing revolving (credit card) accounts. For existing revolving accounts, the lender will use the payment and balance reported on your credit report when you initially applied for the loan, to determine your debt to income ratio.

Hope this helps!

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Ask the Underwriter: We've Submitted all Conditions, Now What?