What form did Duncan's lender complete to demonstrate his ability to obtain a loan?

The lender completed a pre-qualification form to demonstrate Duncan's ability to obtain a loan. This form is an essential step in the home buying process, as it allows the lender to evaluate the borrower's financial situation, including income, debts, and credit history. By completing this form, the lender can provide an estimate of how much money they are willing to lend to the borrower, which is crucial information for both the borrower and the seller in the transaction.

The pre-qualification process offers an initial assessment of the borrower's financial circumstances, without being a formal loan approval. It sets the stage for serious negotiations and budgeting as it gives the buyer clarity on what they can afford, which can significantly influence their home search.

Other options, such as the BINSR (Buyer Inspection Notice and Seller Response), SPDS (Seller Property Disclosure Statement), and the purchase contract, serve different purposes in the real estate transaction. The BINSR and SPDS are forms related to the condition of the property and the disclosures made by the seller, while the purchase contract is the formal agreement between the buyer and seller regarding the sale of the property. None of these options are directly related to establishing the buyer's financial capabilities as clearly as a pre-qualification form does.