Final answer:
If a buyer/borrower's loan is ineligible, it means they do not meet the lender's criteria and cannot access the funds they need. Buyers/borrowers may need to explore alternative financing or address the reasons for their ineligibility. Loan eligibility depends on meeting the specific requirements set by the lender.
Step-by-step explanation:
If a buyer/borrower's loan is ineligible, it means that they do not meet the criteria set by the lender to qualify for the loan. This could be due to various reasons such as a low credit score, insufficient income, or a history of late payments. Ineligibility for a loan typically means that the buyer/borrower will not be able to access the funds they need for their intended purpose.
When a loan is deemed ineligible, the buyer/borrower may need to explore alternative financing options or take steps to address the reasons for their ineligibility, such as improving their credit score or increasing their income. It is important for buyers/borrowers to understand and meet the requirements set by lenders to increase their chances of loan eligibility.
Overall, if a buyer/borrower's loan is ineligible, it indicates that they do not qualify for the loan based on the specific criteria set by the lender.