A lender's written offer stating the terms, the amount of the loan, the interest rate and any other conditions under which it agrees to lend money to a homebuyer.
a written document that sets forth the lender's obligation to extend credit upon the satisfaction of certain conditions
See Mortgage Commitment Letter.
A letter sent by the lender to a borrower stating that the loan has been approved and describing the terms of the loan
A letter which your lender may send you, starting the terms of the loan and its approval.
A legally binding letter, issued by a bank, to provide funds as specified to the written terms and conditions.
a loan approval issued by a lender agreeing to make a loan (usually after certain
A formal, written offer from a lender outlining the specific terms of the loan, the time deadline and the conditions and requirements that must be met in order to close (or " settle") on the loan.
A written offer by the lender to the applicant which states the terms under which the lender agree to make a mortgage loan.
A formal document supplied by a lender to a home buyer that details the terms under which the lender will lend money to the home buyer. Also known as a "loan commitment." This letter indicates the contingencies that must be cleared prior to funding the loan.
A written pledge, by the lender representing they will make a loan to a mortgage applicant, usually under certain stated conditions.
A document that is provided by the lender to the buyer following loan committee approval of the funds to be borrowed in the transaction.
A binding offer by a lender to loan money at a future date subject to the borrower's compliance with stated conditions.
A former offer by a lender stating the terms under which it agrees to loan money to a borrower. Source: The Massachusetts Homeownership Collaborative
A lender's written offer to grant a mortgage loan outlining the terms, the amount of the loan, the interest rat and any other conditions. It can also serve as a communication of the lender's decision on the borrower's application.
a written loan approval that sets forth the terms and conditions under which the loan is made. The body of the letter specifies your loan amount, loan structure, interest rate, and any conditions that must be met prior to closing.
A formal offer by a lender stating the terms under which it agrees to lend money to a home buyer. Also known as a "loan commitment."
A formal offer by a lender stating the terms under which the lender agrees to loan money to a borrower.
A written promise to make a loan for a specified amount and on specified terms.
A formal letter from a lender that states the terms and conditions of the agreement to loan money to the borrower.
A letter from your lender that states the amount of the mortgage, the number of years to repay the mortgage (the term), the interest rate, the loan origination fee, the annual percentage rate and the monthly charges.
Written notification from the lender to the borrower that approves the mortgage request and which should include the amount of the mortgage, interest rate, payment and all terms and conditions.
A statement by a lender detailing the terms and conditions under which it agrees to lend money to a consumer. Also known as a loan commitment.
Written agreement detailing the terms and conditions by which the bank will lend and the borrower will borrow funds to finance a home.
An official notification from a lender to a Borrower indicating that the borrowers loan has been approved. It will state in detail the terms and conditions of the loans.
Letter issued by a lender that says you have qualified for a certain mortgage amount on a specific property.
The letter prepared by the Lessor to spell out terms and conditions between Lessee and Lessor for a master lease line of credit.
A letter from the lender to the borrower stating that the loan application has been approved for a specific amount, term and rate and listing the conditions under which the loan funds will be disbursed.
A written commitment from a lender to lend mortgage funds to specific borrowers as long as certain conditions are met within a specified time period before closing. A key component of the commitment, particularly in a period of volatile interest rates, is the "rate hold", where a lender may "cap" a rate for a defined period, such as 60 days or 90 days. Commitments on financing for new homes, which usually have longer closing dates, can be negotiated between the lender and the builder and be held for as long as 6 months, and even a year.
A formal offer by a lender stating the terms under which it agrees to lend money to an applicant. Also known as a "loan commitment." The commitment letter can only be issued after the file has been reviewed by an underwriter.
A binding, written pledge, by the lender to a mortgage applicant, to make a loan, usually under certain stated conditions.
This is the document that your lender will confirm the basic terms and conditions upon which the lender will provide the mortgage and indicate the conditions that must be met before funding. The standard conditions include but are not limited to receipt of an appraisal, income verification by way of employment letters and income tax returns, as well as verification that the purchasers downpayment has not been borrowed.
A formal offer by the lender stating the terms under which it agrees to lend money to the homebuyer. Also known as a "loan commitment".
A written agreement to provide a loan for a specified amount and on specified terms.
A formal offer by a lender stating the terms under which a financial institution agrees to lend money. Sometimes called a "loan commitment."
A lender's formal notice to a borrower that a loan has been approved; states the terms and conditions of the loan.
A letter outlining the amount, terms and conditions under which a lender is willing to offer a mortgage.
A document prepared by the lessor that sets forth its commitment, including rate and term, to provide lease financing to the lessee. This document, if utilized, precedes final documentation, and may or may not be subject to lessor credit approval.
A formal offer by a lender to lend money to a borrower under specified terms.
A written agreement in which the lender agrees to lend money if the borrower meets certain conditions.
A commitment letter is a formal offer by a lender stating the terms under which it agrees to lend money to a home buyer.
A formal offer by a lender stating the approved terms for lending money to a home buyer. Back
A letter sent to the borrower stating the final terms & conditions of the lease/loan approval.
A written promise from a lender that you will receive a mortgage of a specified amount at a specified rate.
An official notification to a borrower from a lender stating the terms under which it agrees to lend money to the borrower. Sometimes called a loan commitment.
A formal offer by a lender making explicit the terms under which it agrees to lend money to a borrower over a certain period of time.
Form letter from lender stating willingness to advance funds
A formal notification from a lender stating that the borrower's loan has been conditionally approved and specifying the terms under which lender agrees make the loan. Also known as a "loan commitment."
A written offer from a lender to provide financing to a borrower. The commitment letter states the terms under which the lender agrees to provide financing to the borrower. Also called a loan commitment.
A formal offer by a lender stating the terms under which it agrees to loan money to a homebuyer.
(known in Britain as Offer of Advance) A formal offer by the lender, which states the terms under which it has been agreed to lend money, also known as a 'loan commitment'. This letter will indicate the condition that must be satisfied before release of funds.
A letter stating that a bank will issue a mortgage and guarantee payment for a construction project.
A formal letter from the lender stating the terms under which it agrees to loan money to the buyer.