Answer :
Final answer:
Lenders rely on employment history and credit reports to evaluate borrowers' financial reliability and determine loan terms.
Explanation:
Employment history and credit reports are important to lenders as they provide crucial information about a borrower's financial responsibility and ability to repay debts.
For example, a borrower with a stable job history and a good credit score is seen as less risky compared to someone with a history of frequent job changes and poor credit.
Lenders use this information to assess the risk of lending money and to make informed decisions on whether to approve a loan, what interest rate to offer, or whether additional collateral or a cosigner is required.
Learn more about Creditworthiness and lending criteria here:
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