👉 Prequalified refers to a process or system in which an individual, organization, or institution is required to demonstrate financial stability and creditworthiness before they are approved for certain types of loans or investments. This can be done through various means such as credit checks, collateral, or other forms of verification. In the context of finance, prequalified loans or investments can include everything from high-yield bonds to mortgage-backed securities, which are secured by the borrower's property and are typically offered at a lower interest
