Pre-Approval
nounpre-ap·prov·alpronounced pree-uh-PROO-vul
Last reviewed 16 April 2026
What does the noun Pre-Approval mean?
A conditional commitment from a lender confirming you are eligible to borrow up to a specified amount, based on your current financial position. It typically lasts 3 to 6 months and does not commit you to taking the loan.
How the noun Pre-Approval is used
Getting pre-approval before house hunting meant we knew our budget was $750,000 and could make offers with confidence.
Synonyms
conditional approval, approval in principle
Related words
Cite this entry
MLA citation: "Pre-Approval." How to Property, 16 Apr. 2026, https://howtoproperty.com.au/definitions/pre-approval. Accessed 29 May 2026.
Chicago citation: How to Property. "Pre-Approval." Last modified April 16, 2026. https://howtoproperty.com.au/definitions/pre-approval.
APA citation: How to Property. (2026, April 16). Pre-Approval. https://howtoproperty.com.au/definitions/pre-approval