mortgage & home loan refinance | vase at home

Pre-approval

BILLS.COM GLOSSARY

A lender's evaluation of a borrower's eligibility to obtain a loan of a certain dollar size. Unlike a pre-qualification, a pre-approval is offered by a lender only after a formal loan application has been submitted and the lender has examined proof of the borrower's income, documents that demonstrate the borrower's credit history and employment history, and proof of the borrower's ability to make a sufficient down-payment.

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