What Does an Underwriter Look For on a Mortgage Loan?

People ask me, “What Does an Underwriter Look For on a Mortgage Loan?”

There are three things:

First of all they’re looking for income. They’re looking for consistent income that shows you your ability to pay the monthly debts and they really like for this income to be consistent over a period of time such as two years.


The second thing they’re looking for are assets. Does this buyer have the assets necessary to make the down payment if required, on this loan?


The third thing an underwriter is looking for is the appraisal on the property. That the property is the collateral for the mortgage company therefore they’re looking to see if that collateral is adequate to cover the amount of the loan

So the three things an underwriter is really looking for is  consistent income to cover monthly debts, the assets necessary for any down payment or reserves if required and the appraisal property and whether or not the collateral is adequate.

I hope that helps answer, “What Does an Underwriter Look For on a Mortgage Loan?”

If you have any additional questions about the mortgage process, call Keystone Mortgage at 865-909-0211. Providing Tennesseans with the best mortgage experience, period. So what are you waiting for? Get that dream home and apply here now.

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