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What is a loan approval letter?

Once your application is approved, you’ll receive a loan approval letter from the lender, which will likely include some conditions such as:

·         Supplementary documentation: If you aren’t able to provide credit history, some loan programs may ask you to provide proof of utilities, cable, etc.

·         Explanation of irregularities: You may be asked to explain variations in your credit report.

·         Verification: You may be asked to verify your employment and income or housing and rental history.

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