Mortgage Loan Approval?

We are in the underwriting stage of our FHA loan. We received a copy of the approved appraisal along with a letter from the Mortgage Services company stating that our loan was approved upon some contingencies. They stated items such as home owners insurance, current pay stubs at closing, and ID. The letter mentions the loan amount and loan terms. Does this mean that we are actually approved for our loan? What happens now?

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