Pre-approval:

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Pre-approval:: Certificate Of Pre-approval Issued By The Office Of Loan Programs That States A Borrower’s Credit, Assets And Income Have Been Verified And The Applicant Qualifies For A Program Loan At A Specified Amount And Interest Rate. At The Time Of Pre-approval, The Specified Initial Interest Rate Is Not “Locked-in” And Is Therefore Subject To Change Prior To The Issuance Of A Loan Commitment Letter. The Initial Interest Rate Will Be The Program Rate In Effect At The Time A Loan Commitment Is Issued.

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