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January 19, 2023
An underwriter is a financial specialist who examines your finances and determines how much risk a lender will take on if you are approved for a loan. Underwriters precisely assess your credit history, assets, the quantity of the loan you want, and how well they predict you will be able to repay the loan. The underwriter assists the mortgage lender in determining whether or not you will receive loan approval and will work with you to ensure that all required paperwork is submitted. Finally, the underwriter will ensure that you do not close on a loan that you cannot afford. If you do not qualify, the mortgage underwriter has the authority to refuse your loan.