When a loan pre-approval is provided to a buyer, what does it mean? The borrower qualifies for a loan but her financial information hasn't been verified. The home has appraised for at least the purchase price. The home has passed an inspection. The loan has been approved based on the buyer's current financial status.

Chemistry: The Molecular Science
5th Edition
ISBN:9781285199047
Author:John W. Moore, Conrad L. Stanitski
Publisher:John W. Moore, Conrad L. Stanitski
Chapter1: The Nature Of Chemistry
Section: Chapter Questions
Problem 103QRT
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When a loan pre-approval is provided to a buyer, what does it mean?
The borrower qualifies for a loan but her financial information hasn't been verified.
The home has appraised for at least the purchase price.
The home has passed an inspection.
The loan has been approved based on the buyer's current financial status.
Transcribed Image Text:When a loan pre-approval is provided to a buyer, what does it mean? The borrower qualifies for a loan but her financial information hasn't been verified. The home has appraised for at least the purchase price. The home has passed an inspection. The loan has been approved based on the buyer's current financial status.
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