qualification

Definition

A borrower's eligibility for a loan based on his or her credit history and ability to repay.

Use qualification in a sentence

The qualification of the applicant was excellent as they had carefully built their credit their entire lives by acting responsibly.

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At the time she did not have the proper qualification but we talked about how she could fix her credit history to qualify in the future.

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Our company CEO told me this week that he had tried to get a mortgage on his new vacation home and was told that his qualification for that loan was the highest the company had ever seen.

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