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all right what does a conditional approval mean this stage in the process can feel a little overwhelming and intimidating because an underwriter is involved and sometimes it's a little unclear what does the underwriter want who are they why are they asking for documents so let's walk through the flow here of how we get a conditional approval and really we'll break it down to show you it's really not that bad okay so they're about four steps here in this process over here on the Left these are the documents that we asked from you for the pre-qualification or maybe some follow-up documents some things like w-2s 1040s pay stubs everything is right here okay so maybe it's pay stubs maybe it's an ID it's 1040s bank statements and then what happens is we're taking that along with your contracts and the loan estimate and then we're going to send that to an underwriter and the underwriter is going to take all of the documents and they're going to compare them against government guidelines the guidelines to be able to get approved for a mortgage all right so that underwriter is then going to come back with a needs list this is where we have a conditional approval so the underwriter will review everything and they'll say congratulations you have a conditional approval all we need are a few extra items okay it's very common for the underwriter to have a needs list that they request from you so normally in your needs list you're going to expect the appraisal okay so that has already been worked on we started working on that for you what also is probably gonna be expected is a title report and we'll be the ones to order the title report so you don't even have to worry about that homeowners insurance so they'll ask for a declarations page and will instruct you on how to get that as well and maybe they ask for something else maybe they want you know updated pay stubs or they might have questions about employment that they just want to clear out so basically what they're saying here is as long as we meet that needs list then you have a final approval for the loan so what we'll do is after the underwriter gives us the needs list will send the needs list over to you and say here's what we need from you what you need to do is get those documents back within 48 hours that way we can make sure that we're on time for closing so what we'll do is we'll take all of those documents the underwriter asked for we'll send them back to the underwriter and then is where they're going to give us a final approval this is also called a clear to close that means everything is done with a loan so the underwriting process and conditional approval really isn't as terrifying as it seems there are kind of three main approval stages when you're going through this process in the very beginning you're getting pre-qualified ok that's where we're taking a preliminary look and we know what the underwriters gonna look for so we're making sure those documents are there then the underwriter is going to look at everything and give us a conditional approval they're going to see if we need any extra documents to finalize the loan and then you get a final clear to close and everything is finished so really as as simple as we're put submitting documents in the very beginning the underwriter is looking at those documents seeing if we need anything else we submit the documents if we miss anything and we have a final approval