Underwriting Upfront vs Back End

4 Replies

Hi All,

I am currently working with a mortgage broker and they advertise that they complete the underwriting process up front versus doing it on the back end of the mortgage. They are pitching that this methodology makes my offers "just like cash". Is this true and why wouldn't everyone do this if this is the case?

Thanks in advance!

Well, it’s not “just like cash” but presenting a preapproval that shows it was a Complete process with tax returns, W-2’s and bank accounts reviewed always helps.

@Wiley Strahan There are few lenders who offer this program which help borrowers to bid on the property because Realtors knows this is sold buyer with appraisal condition open only.  This is lot of work for lender without any commitment from borrower but it benefit borrower a lot  specially in this market when the investory is lwo.