Pre-approval
In pre-qualification instead.
2. The second meaning has to do with mortgage lending. People interested in buying a house can often approach a lender, who will check their credit and verify their income, and then can guarantee they would be able to get a loan up to a certain amount. The people can then take a letter of pre approval from the lender, and when shopping for a home can have possbly an advantage over others because they can show the seller that they are guaranteed to be able to buy the house.
See also: Credit, Mortgage
