Lori David Boone, Associate Broker, MRP, SRS, RENE, eXp RealtyPhone: (334) 669-9698
Email: [email protected]
Email: [email protected]
For most homebuyers, securing financing through a mortgage loan is the best option to purchase a property. Getting an overall idea of the mortgage underwriting process can help you when working with a mortgage lender and can help you prepare for each step of the journey.
After you send in a mortgage loan application, it goes through the underwriting process. Your lender reviews key pieces of information to determine if you’re financially able to pay them back for the loan.
A mortgage underwriter reviews your credit score, credit history, employment information and assesses the mortgage loan amount to see if it’s worth the investment for the lending company.
There are 5 main steps to the mortgage underwriting process. Theses include:
Overall, an average of 7 to 14 percent of mortgage applications are denied yearly. Most lenders abide by Fannie Mae and Freddie Mac guidelines during the lending process. Government backed loans such as an FHA or VA loan adhere to regulations of the Federal Housing Administration.
Sometimes, lenders will implement their own regulations on top of the standard ones in response to economic factors or other conditions, which is called an overlay.
Getting approved or a loan gives homebuyers more freedom when making a property purchase. By reviewing the underwriting process, you can prepare needed documentation and get a better idea of the timeline for approval.
Lori David Boone is a highly skilled Associate Broker with advanced real estate designations, including GRI (Graduate, REALTOR® Institute), MRP (Military Relocation Professional), SRS (Seller Representative Specialist), and RENE (Real Estate Negotiation Expert). Lori leverages her extensive legal background and market knowledge to provide high-quality representation for clients buying or selling real estate in the River Region. Her approach is built on strong negotiation skills, marketing expertise, and a commitment to smooth transactions. Currently affiliated with eXp Realty, Lori specializes in the River Region real estate market (Montgomery, Pike Road, Prattville and Wetumpka) , providing comprehensive services from initial consultation to closing.
Lori’s real estate career is distinguished by her dedication to market research and staying updated on the latest industry trends and best practices. Her expertise extends beyond traditional real estate roles, as she is skilled in property listing, market analysis, and creating effective promotional strategies that drive results. She takes pride in building lasting relationships with clients, listening closely to their needs, and delivering personalized solutions that make the buying or selling process as stress-free as possible.
In addition to her real estate credentials, Lori holds a Juris Doctorate and a Bachelor of Arts in English and Mass Communication, which further strengthens her communication and negotiation skills. These qualities, combined with her commitment to excellent service, make her a trusted advisor for both first-time buyers and seasoned investors.
With a passion for helping her clients achieve their real estate goals, Lori continues to be a top choice in the River Region for anyone seeking professional, reliable, and results-driven real estate services.
Reach out to Lori for personalized real estate services backed by a comprehensive understanding of the market and the highest professional standards.