Underwriting is a detailed loan application evaluation process. Our underwriters look at a number of factors, including qualifying ratios and other documentation, to determine whether an applicant should be approved. In some cases, the underwriting process may come back with a conditional approval rather than a full approval or rejection. You can read more about conditional approvals and the underwriting process on our News & Insights blog.

A mortgage loan guaranteed by the U.S. Department of Veterans Affairs. The VA home loan was created to make housing affordable for eligible U.S. veterans and members of the military. VA home loans are available to veterans, reservists, active-duty military personnel, and surviving spouses of veterans with 100% entitlement. Eligible veterans may be able to buy a home with no down payment, refinance up to 100% of the home’s value and pay no private mortgage insurance.

A tax form that reports the wages you’ve earned and the taxes withheld by your employer.