Finance
In Alaska, a borrower whose credit score drops between the time of loan application and closing may find that the lender:
AIs obligated to honor the original loan terms regardless of credit changes
BMay adjust loan terms, require additional conditions, or decline to fund the loan if creditworthiness has materially changed✓ Correct
CCan only decline the loan with 30 days' written notice
DCannot make any changes to a pre-approved loan
Explanation
Lenders typically reserve the right to adjust or cancel a loan if the borrower's creditworthiness materially changes between application and closing. Significant credit score drops, new debt, job loss, or other changes can affect loan eligibility. Most purchase agreements include provisions for this scenario.
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