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Pre-Approved/Pre-Qualified

Pre-Approved/Pre-Qualified

Varying on the provider and financial product in question (e.g., mortgage, personal loan, credit card), pre-approval and/or pre-qualification are both indicators providers use to determine the likelihood an applicant will ultimately be approved for a financial product (as well as the loan amount, rate, and other offer details) based on the applicant meeting certain underwriting criteria.

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