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What is underwriting?
Risk evaluation by lender.
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What is conditional approval?
Approval pending conditions.
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What is clear to close?
Loan fully approved.
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What causes mortgage delays?
Missing documents, appraisal issues, title problems.
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What is appraisal?
Property value assessment.
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What happens if appraisal is low?
Renegotiation or additional funds required.
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What is title insurance?
Protects against ownership defects.
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What is escrow company?
Neutral third party handling funds.
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What is recording?
Official registration of loan documents.
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What is funding?
Release of loan money.
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