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A mortgage in principle is a preliminary approval, giving you an idea of how much you could borrow, whereas a full mortgage offer is a binding commitment from a lender. The decision in principle is based on a basic assessment of your financial situation.
A visa application is approved in principle when New Zealand Department of Immigration recommended your application for approval, but need extra documents like a passport or receipt for tuition fees, to confirm you meet the visa requirements.
An application for residence is approved in principle at such time as a visa or immigration officer is satisfied that all evidential and verification requirements necessary to demonstrate eligibility under the relevant policy have been met with the exception of the payment of any applicable migrant levy (see R5.
*** approval in principle is issued in writing by Immigration NZ when the Active Investor Plus Visa application has been fully assessed and cleared to proceed to the next phase which is the transfer and investment of the nominated funds.
Your application is approved in principle (AIP) if: you have received a letter from IRCC stating that you meet the permanent residence eligibility requirements, but. you still have to pass the medical, security and background checks for you and, if needed, your family members.
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When you apply for In-Principle approval, the Bank will decide whether to approve the home loan based on your financial health. There is no remittance of the actual loan that takes place when the borrower gets the In-Principle approval.
The in-principle decision is based on the information provided by you and does not represent a credit approval. Final approval and card issuance is subject to successful verification and receipt of complete documentation in original.

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