What Are Underwriting Conditions?
Underwriting Conditions: The documents and items an underwriter requires before the loan can close.
Also called: conditions, prior-to-doc conditions, prior-to-funding conditions
Underwriting conditions are the items an underwriter needs before final approval.
Types of conditions
- Prior to documents (PTD): must be cleared before closing documents are prepared
- Prior to funding (PTF): must be cleared before the loan funds, sometimes at closing
- At closing: signed at the table, such as a final occupancy certification
How to clear them quickly
- Upload exactly what's asked, every page, including blank pages of statements
- Answer all conditions at once, rather than one at a time
- Write clear letters of explanation
- Ask if you're unsure what's needed
Good to know
New conditions can appear if something changes: a new deposit, a new credit inquiry or a job change.