What Does Conditionally Approved Meaning For Apartment?
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Conditional approval of a mortgage loan does not guarantee final approval, but it is a stronger sign that the applicant will be approved than prequalification. When you apply for a mortgage, your request goes through a number of steps before it is accepted or turned down. When you get to the conditional approval mortgage step in the underwriting process, you’ve already done a lot of the things that are needed. Most of the time, conditional approval means that you have to meet more requirements before you can get your loan. Here’s how to get it and when.
A lender gives you a conditional approval if they like your loan application but want you to meet certain requirements before they can give you the full approval.