Loan Qualification
Loan Qualification
It simply means that, based upon an initial review, your credit appears sufficient to qualify you for the necessary loan amount. After issuing the letter, the lender may refuse to approve your loan if there are any changes in your employment, creditworthiness, or other changes which might affect your ability to repay the loan. The lender reserves this right until the deed is recorded transferring title and the loan proceeds are actually disbursed at real estate closing gifts.
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