Contracts
A Virginia buyer's lender approves a loan conditional on the buyer's current condo selling first. This type of loan approval is:
AA full unconditional approval
BA conditional approval — additional conditions must be met before the loan funds✓ Correct
CA denial
DAn automatic approval
Explanation
Conditional loan approvals (sometimes called 'approval with conditions') require the borrower to satisfy specific remaining conditions before the lender will fund the loan.
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