Finance
A Mississippi borrower's loan application is approved with 'conditions.' This means the loan is:
AFully approved and ready to close
BConditionally approved — the lender will fund the loan when specified conditions (additional documentation, appraisal, etc.) are satisfied✓ Correct
CDenied but subject to appeal
DApproved for a lower amount than requested
Explanation
A 'conditional approval' (or 'approval with conditions') means the underwriter has approved the loan subject to fulfillment of specific conditions before closing — such as providing additional income documentation, a satisfactory appraisal, clearing a title issue, or obtaining additional insurance.
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