What are pre approval and post approval documents?

Question

Accepted Answer

Pre-approval and post-approval documents are required for loan applications and include financial statements, credit reports, and loan agreements.

Pre-approval documents are submitted before a loan is granted and include financial statements, credit reports, and employment verification.
Post-approval documents are submitted after a loan is granted and include loan agreements, insurance policies, and property appraisals.
These documents help lenders assess the borrower's creditworthiness and ensure that the loan is being used for its intended purpose.
Examples of pre-approval documents include income tax returns, bank statements, and pay stubs.
Examples of post-approval documents include mortgage deeds, title insurance policies, and property surveys.

Top Tata Capital Branch Operations Associate interview questions & answers