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What does it mean to be 'pre approved' for a loan. Pre approved means that the lender (it could be your bank or credit card company or any other company that you had an account with) already have your details, and provided those details are correct, they will lend you a certain amount.
Pre-Approvals are great for two reasons. 1  1. A Pre-Approval will give you a clear understanding of how much you can afford to buy. More so by talking with us, you will get a better understanding not only of how much you are pre approved for, but more importantly how much you can afford.