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WordNet-Online
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Definitions from the WebTerm: rate-approvalDescription:Rate-approval refers to the process of officially accepting or confirming a particular interest rate or pricing arrangement. It is often applied in the context of loans, mortgages, or financial agreements, where the lender evaluates and approves the proposed rate for the borrower. Senses:Sense 1 - Noun:In the context of loans and mortgages, rate-approval can refer to the official confirmation or authorization of a proposed interest rate. Sense 2 - Verb:Rate-approval can also be used as a verb to describe the act of giving official consent or acceptance to a specific interest rate. Sample Sentences:1. The bank informed us of our rate-approval for the mortgage, which allowed us to proceed with buying our dream home. 2. The rate-approval process can sometimes be lengthy, requiring extensive documentation and evaluation. 3. The borrower anxiously awaited the rate-approval decision from the lender. 4. The committee unanimously agreed to rate-approve the proposed interest rate for the loan. Possible Related Products: | ||||
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