After underwriting reviews your file, you'll typically get a "conditional approval" — a list of items the underwriter needs before issuing the final commitment. Buyers who respond within 24 hours close on time. Buyers who treat each request casually delay closing — sometimes losing their rate lock or seller cooperation in the process.
What Conditional Approval Actually Means
It means the underwriter has reviewed your file and is willing to issue final approval — *if* you provide the documents or explanations they've listed. It is NOT final approval. Closing can't happen until every condition is cleared. The list usually arrives 7–14 days into the process and contains anywhere from 2 to 15 items.
Common Conditions You'll See
- Updated bank statements (last 30–60 days)
- Letter of explanation for a recent large deposit
- Gift letter signed by the gifter, plus their bank statement
- Updated pay stubs (within 30 days of closing)
- Verification of employment (lender calls your HR)
- Title work clarifications
- Property tax records
- Homeowners insurance binder with the lender as loss payee
Speed Matters
Most lenders work conditions in batches. If you take 4 days to respond, your file goes to the back of the queue. Same-day responses keep your file at the top. A 30-day closing timeline can become a 45-day timeline simply from slow responses — and you may lose your rate lock or the seller's patience.
When You Don't Have a Document
If a condition asks for something you don't have or that doesn't apply, don't ignore it — write a letter of explanation describing the situation. Underwriters need *something* to satisfy the condition. A clear letter is almost always accepted.
Respond to every condition the same day. Keep documents fresh. Send letters of explanation rather than leaving gaps. That alone keeps most closings on time.
