In this article, we will address this question what does credit approved mean. Especially when we apply to a bank for a loan, we encounter a procedure that wants to mortgage a property or salary in return while taking this loan.
The reason for this is that if we cannot adapt to the current payment plan or make our current payment after a certain period of time, the bank wants to secure itself. For example, if we want to buy an apartment or car with a loan, the bank will ask us for the payroll and the data of the house or car we will buy, and will appoint an expert about this valuable property to question whether this purchase is really correct, the reason for this I mentioned in the paragraph above. Let’s come to the concept of loan approval or loan approved property, companies that sell some real estate offer the opportunity to facilitate their potential customers to buy loans by agreeing with some banks, institutions and organizations so that the real estate they will sell can be sold quickly, we call this a loan approved house, loan approved residence or loan approved property. We use In this article, we have talked about loan approval and a few sub-titles about it, for detailed information, you can check our other articles under the title of economy on our site.