Hedge funder Scott Bommer, of SAB Capital, is in contract to sell three Lily Pond Lane properties in the Hamptons for $110 million in an off-market deal, The Post has learned.
A pre approval is based on the documentation the borrower supplies at the time of application, and any actual eligibility to receive the pre approved loan depends on the terms and conditions of the pre approval and ability to secure the loan before the pre approval expires.
A bank loan pre-approval occurs when a bank approves a borrower for a specific loan amount upfront based on the borrower's credit and income.This often occurs for home loans and other large purchases. When you apply for credit, this places a hard inquiry on your credit report.If you're shopping for a bank loan, it's prudent to understand if loan pre-approvals can hurt your credit score.his often occurs for home loans and other large purchases. When you apply for credit, this places a hard inquiry on your credit report. If you're shopping for a bank loan, it's prudent to understand if loan pre-approvals can hurt your credit score.