Preparing students for successful lives in a complex world. 1  Resources for Academic Excellence 2  ... Connections to Careers and the World 3  ... Environment for Service and Engagement ...
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-approval means the lender is confident you can make a necessary down payment and your income is sufficient to cover mortgage payments. At this stage, only one concern remains. The lender needs to make certain the propertyâs value offers sufficient collateral in relation to the loan amount.