Loan Process
Who actually approves the loan?
Context
Borrowers sometimes assume the broker they are talking to is the one approving the loan.
The short answer
The lender, not the broker, makes the final credit decision.
Things to keep in mind
We prepare and package the loan file, compare offers across our lender network, and advocate for the borrower throughout underwriting, but the credit decision itself rests with the lender.
Next step
Contact us to start packaging your file for lender review.
Have a question about your own situation?
Davis Monroe Financial LLC serves Minnesota homebuyers and homeowners. You complete one application. We compare the wholesale lenders on our panel and submit your file to the one that fits it best, and each one offers, so your pricing is not limited to one lender's rate sheet.
Davis Monroe Financial LLC is a mortgage broker, not a lender. We do not make credit decisions or fund loans. Rate locks are issued by the lender; we submit and manage lock requests on your behalf. All loans are subject to credit approval. Rates and terms are subject to change without notice.