Underwriters will also conduct a title search to ensure the seller legally owns the home and an appraisal to make sure the home value is worth the purchase price.
Next, your mortgage application must be approved by an underwriter, who will scrutinize your finances. Be prepared to offer more information as needed. Underwriters will also conduct a title search to ensure the seller legally owns the home and an appraisal to make sure the home value is worth the purchase price. This process of underwriting may take a few days or weeks.