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hi I'm mark Zachary with next-step home loans hope you're doing well today so I've had a lot of questions on hey I've gotten my initial approval and that's great news but what does it what does that mean exactly and what are our next steps from here so in order to shoot a quick little video for you to explain what the initial approval means and where we go from here and all of your next steps so the initial approval basically means that we have taken all of the information that we have gathered from you bank statements pay stubs w-2s tax returns all that stuff and we have submitted the file to the underwriting team and the underwriting team has approved your loan based on that initial submission it does not mean that we're completely done with underwriting there's always some conditions that come out of the underwriting process conditions may mean that if you're purchasing a house may mean that we need to document that the earnest money is cleared or the option fee has has cleared maybe there's a gap of employment that we need to write a letter of explanation for or something that has to do with the file that we need to clear up for the underwriter CUC or he is always going to issue conditions for those type things and once we get those conditions from you and from third-party sources maybe a title company or something like that an appraisal company will submit all of the conditions back to the underwriting team one last time for our final approval and our clear to close those are the three most important words when you are in the mortgage process is you are clear to close and we always refer to that as a CTC clear to close so that's ultimately what we're shooting for but initial approval great milestone to hit just doesn't mean that we're done so be sure and respond to anything that we need from you in regards to conditions get that back to us as quickly as possible so we can get all of that stuff back to the underwriter and get our clear to close so hopefully that clears up what the initial approval is and what the next step is from here alright have a great day we'll see you next time take care bye bye