A written document stating the willingness of a lender to give a mortgage to a mortgagor. The commitment will provide a time period that the mortgage will be given and an indication of the interest rate to be charged. The mortgage will be granted at closing of title.
A written offer of a mortgage loan by a lending institution . Often in the form of a letter, the commitment specifies the terms and conditions of the mortgage loan being offered to the prospective borrower.
this is the lenders agreement to be bound by a specific set of loan terms for a specific period of time. The borrower applies for a loan and if accepted, the lender will give a loan commitment. Loan documents are prepared and funds are advanced based on the terms of the mortgage commitment.
A letter from a lender agreeing to make a mortgage for a specific property, specifying the loan amount, length of time and other conditions.
The written notice from a lending institution, such as a bank, saying it will advance mortgage funds in a specified amount that enables a buyer to purchase a house.
Approval of loan after all information has been verified
A formal notice from a lending institution stating the amount it will lend for the purchase of property.
A written notice from the bank or other lending institution saying it will advance mortgage funds in a specified amount to enable a buyer to purchase a house.
The written notice from the bank or other lender saying that it will advance you the mortgage funds in a specified amount to enable you to buy the home.
Notice from a bank or lending institution saying it is advancing mortgage funds. MORTGAGE NOTE - An agreement in writing to repay the loan by the borrower.
A formal written communication by a lender, agreeing to make a mortgage loan on a specific property, specifying the loan amount, length of time and conditions.
A written offer by a lending institution and specifies the terms and conditions of the mortgage loan being offered to the prospective borrower. Used in purchasing a home, realtors normaly like to see the commitment upon siging a sales agreement. (see sales agreement)
the agreement by a lender (bank) to lend money to a buyer to enable the buyer to purchase real estate, subject to the conditions contained in the commitment. This is often in the form of a letter addressed to the buyer (borrower) and usually is valid only for a limited time.
An agreement between lender and borrower detailing the terms of a mortgage loan such as interest rate, loan type, term and amount.
A notice in writing from the lending institution indicating it will advance mortgage funds (grant a loan) for the purchase of a specific property. The commitment will also state the interest rate and repayment terms of this loan.
A written notice from the a lender saying it will fund the mortgage loan to enable a buyer to purchase a house.
An agreement between the borrower and the lender to disburse a mortgage loan at a future date if specified terms and conditions are satisfied.
A legal contract between a borrower and a lender to advance a mortgage loan when the borrower meets certain conditions, e.g., completing the projects, acceptance by the lender's agent, etc.
A formal indication by a lending institution that it will grant a mortgage loan on property, in a certain specified amount and on certain specified terms.