What is Conditional Approval?

Conditional approval is confirmation from a lender of approving you for specific housing loan terms on the property you are considering purchasing.

Like final approval, conditional approval means you have been approved for the loan by the bank but that approval is for a specific property.

At this point, the steps left until you receive the loan settlement are related to verifying that there are no issues with the items like home appraisal, title, etc.