What happens after the underwriter approves a loan?

Once the underwriter approves a loan, the lender will issue a loan commitment letter outlining the terms and conditions of the loan. The borrower must then satisfy any remaining conditions specified in the letter before closing. After these conditions are met, a closing date is scheduled, where the final paperwork is signed, and the funds are disbursed. Finally, the loan is officially funded, and the borrower begins making payments as stipulated in the loan agreement.