preapproval

Noun

Meaning

preapproval (countable and uncountable, plural preapprovals)

approval in advance

Examples

Otherwise, you’ll need to send in the documents listed for preapproval as part of your application. Source: Internet

A mortgage preapproval could put you head and shoulders above other buyers. Source: Internet

Instant Prescreen increases your new account acquisitions by performing the preapproval process in seconds, while the customer is on your Website, on the phone with you or at your institution. Source: Internet

Well, preapproval follows the same process as the loan application, so it will be close to the amount you can expect to borrow. Source: Internet

With a preapproval, you can reliably find out the interest rate you’ll be offered by each lender. Source: Internet

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