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What is conditional approval?

Conditional approval is a statement from a mortgage lender indicating a mortgage will get approved provided specific conditions are met at the time of closing. Conditional loan approval does not guarantee a mortgage will actually be approved.

What does approved with conditions mean?

Approved with conditions is merely a fancy-pants way of saying, “we need to ask you some questions but not in a scary way.” In most cases, borrowers might be asked to provide additional documentation to accompany a mortgage application before the processing department feels it's ready to be submitted to underwriting for final approval.

What is a conditional mortgage approval?

A conditional mortgage approval means your underwriter – the person who works for your mortgage lender and determines whether you qualify for a loan – will likely approve your mortgage application as long as you meet certain conditions.

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