The Underwriter can only work with the documentation as provided. The Underwriter will then issue either an approval or a denial to Atlantic, who then will notify you. If the loan is approved, the process continues. If the application is denied, we will coordinate with you to explore other lender alternatives. Underwriting normally takes one to four days.
Most approvals require some additional clarification or documentation.
If repairs to the property are required, we will require written verification of repair, normally by the appraiser. If appropriate, we will also authorize the closing attorney to begin the closing process. Provide the closing attorney the declaration page and paid receipt. Gift monies should be transferred at this point. Closing costs should be deposited into your accounts so the funds are available and collected for closing.