Meet Trevor Sanders – Your Mortgage Guide in San Diego
My Mission at SD-Loans
Hey, I’m Trevor Sanders—founder of SD-Loans and your local mortgage broker in San Diego. If you’re looking to buy a home and have heard the word “underwriting” tossed around like some mysterious step in the loan process, you’re not alone. I’m here to pull back the curtain and walk you through what underwriting really looks like, so you can feel confident and prepared.
Why Understanding Underwriting Matters
Knowing what happens during underwriting gives you the upper hand. The more prepared you are, the smoother the process—and the sooner you get those keys in hand.
What is Underwriting, Anyway?
Breaking It Down – The Basics
Underwriting is the part of the mortgage process where your lender verifies all the financial information you’ve provided. It’s where your file goes under the microscope to determine if you qualify for the loan you’re applying for. This includes evaluating your income, debt, credit history, assets, and more.
Underwriting’s Role in Loan Approval
Think of underwriting as the decision-making phase. Once the underwriter reviews everything and feels confident in your financial stability, they give your loan the green light—or let you know if any extra steps are needed.
What Happens During the Underwriting Stage?
Reviewing Your Financial Picture
The underwriter is essentially asking: “Can this borrower realistically repay the loan?” To answer that, they dig into every detail of your financial life—from your job to your savings.
Verifying Your Documentation
Every document you submit is reviewed for accuracy and consistency. That’s why we encourage you to provide complete, legible, and up-to-date files. If something doesn’t add up, the underwriter may ask for clarification.
Assessing Risk for the Lender
At the end of the day, lenders want to minimize risk. Underwriters check for red flags that could signal potential repayment issues.
Documents You’ll Need for Conventional Loan Underwriting
Here’s a quick checklist to keep handy:
Proof of Income
- Recent pay stubs (typically from the past 30 days)
- Bonus or overtime documentation (if applicable)
Employment Verification
- Contact info for your employer
- Sometimes a written verification request will be sent to confirm your job status
Tax Returns and W-2s
- Last two years’ worth of returns
- Especially important for self-employed borrowers
Bank Statements and Asset Proof
- Two months of statements for checking, savings, retirement, or investment accounts
Credit Report and Debt Overview
- This is pulled by the lender but reviewed carefully
- Includes existing loans, credit cards, and overall usage
Additional Documentation (if applicable)
- Gift letters for down payments
- Divorce decrees, child support orders, bankruptcy paperwork—only if relevant
How to Prepare for a Smooth Underwriting Experience
Stay Organized from the Start
Keep all your documents in one place—preferably digital and easy to share. This will make your life (and the underwriter’s) so much easier.
Avoid Large Purchases or Credit Changes
Please don’t finance a car, open new credit cards, or rack up debt during this time. Any changes to your financial profile can stall or derail your approval.
Respond Quickly to Requests
If we need additional documents or explanations, the faster you respond, the faster we can move forward.
Keep Communication Open with Your Mortgage Consultant
I’m here to help you every step of the way. Don’t hesitate to reach out if you’re unsure about something—we’ll talk it through.
Common Delays in the Underwriting Process (and How to Avoid Them)Missing or Incomplete Documents
Always double-check your paperwork. If a page is missing or a PDF is blurry, we’ll have to go back and request it again.
Unexplained Deposits
Got a large deposit in your account? Be ready to explain where it came from. If it’s a gift, we’ll need a letter stating that the money doesn’t have to be repaid.
Employment Gaps or Changes
Changing jobs mid-loan isn’t ideal. If it’s unavoidable, let us know right away so we can adjust your file.
Credit Red Flags
Late payments or new credit lines can raise questions. That’s why we always recommend staying steady until closing day.
What Happens After Underwriting?
Conditional Approval
This is a common step. You’ve basically got the green light—but with a few “conditions” (like a last-minute bank statement or updated pay stub).
Clear to Close
Once all conditions are met, you’re officially clear to close. This means the finish line is in sight.
Final Walk through and Loan Funding
After signing your closing documents, your loan is funded, and you get the keys to your new home. Congratulations—you did it!
Final Thoughts from Trevor Sanders
Underwriting may feel like a maze at first, but when you work with someone who knows the way, it becomes a clear, manageable path. At SD-Loans, I treat every client like a friend. I’ll guide you through the details, prep you for each stage, and make sure you feel confident from start to finish. When you’re ready, I’m here to walk this journey with you—every step of the way.
Frequently Asked Questions
How long does underwriting take for a conventional loan?
Typically, it takes anywhere from 3 to 10 business days, depending on how quickly documents are provided and how complex your file is.
What does it mean to be ‘conditionally approved’?
It means your loan is almost approved, but you still need to satisfy a few conditions, like submitting final documents or clarifications.
Can I get denied during underwriting?
Yes, but it’s rare if you’ve been honest and thorough upfront. Most denials stem from issues like unverified income or sudden credit changes.
Should I avoid big purchases during underwriting?
Absolutely! Any new debt can affect your approval. Hold off until after you close.
How can SD-Loans make underwriting easier for me?
We stay ahead of the process by gathering the right documents upfront, guiding you through each request, and keeping the lines of communication open.
