What Is a Mortgage Underwriting Process in New Hampshire?

🏡 What Is the Mortgage Underwriting Process in New Hampshire?

Once you go under contract on a home in Plymouth, Campton, Thornton, Rumney, Ashland, or anywhere in Central NH, your mortgage file moves into a critical stage called underwriting.

Underwriting is where the lender decides whether to fully approve your loan — and it’s one of the most important parts of buying a home.

Here’s exactly how it works.

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What Is Underwriting?

Underwriting is the lender’s detailed review of your:

✔ Income

✔ Assets

✔ Credit

✔ Debts

✔ Employment

✔ Bank statements

✔ Tax returns

✔ Appraisal results

✔ The property itself

The underwriter’s job is to make sure the loan meets all guidelines and that you can safely repay it.

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What Does an Underwriter Look For?

Underwriters examine four main areas:

1️⃣ Credit

Credit score

Payment history

Late payments

Collections or charge-offs

2️⃣ Income & Employment

Paystubs

W-2s

Tax returns

Job stability

Reliable income source

3️⃣ Assets

Bank statements

Reserves

Source of down payment

Large deposits (must be documented)

4️⃣ The Property

Appraisal value

Condition

Safety issues

Property type (condo, single-family, multifamily)

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Stages of Underwriting

The process typically includes:

✔ Conditional Approval

You are approved if you provide certain documents (conditions).

✔ Review of Conditions

You provide updated or missing documents.

✔ Final Approval (Clear to Close)

The underwriter completes the final sign-off.

Underwriting is usually the longest part of the loan process.

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How Long Does Underwriting Take in NH?

Typical timelines:

➡️ 2–5 days for initial approval

➡️ 7–14 days for conditions

➡️ 24–48 hours for final approval

In hot markets like Plymouth, Campton, and Thornton, lenders try to move quickly to meet closing timelines.

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How Buyers Can Speed Up Underwriting

✔ Respond quickly to document requests

✔ Avoid opening new credit lines

✔ Keep bank accounts stable

✔ Don’t make large purchases

✔ Don’t change jobs

✔ Provide clear explanations for deposits

A good lender and agent can make the process smooth and predictable.

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Q&A

Q: What can delay underwriting?

A: Missing documents, appraisal delays, unverifiable income, unexplained bank deposits, or changes in employment are the most common causes.

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Keywords

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Jim Johnson Real Estate Agent

58 NH Route 25A

Wentworth, NH 03282

P: (857) 249-7392

W: www.JimJohnsonRealEstateAgent.com

Licensed New Hampshire REALTOR® with Three Hills Real Estate Services

Broker Email: info@ThreeHillsRES.com

Broker Website: www.ThreeHillsRES.com