Pre-approval: Difference between revisions

 

The first is that a lender, via public or proprietary information, feels that a potential borrower is completely credit worthy enough for a certain credit product, and approaches the potential customer with a guarantee that should they want that product, they would be guaranteed to get it. This rarely happens in the financial services industry, and when it does happen, it is usually loaded with [[fine print]] that is not immediately disclosed. Usually, what happens is [[pre-qualification]], instead.