A commitment for a loan subject to one or more conditions.
An approval by a lender for a loan contingent upon other conditions being met.
A lender's promise to issue a loan subject to certain conditions. Generally, the lender will not fund the loan until the conditions have been met.
A lender making a commitment to a loan however, certain conditions must be meet before the closing date of the property.
A promise by a lender to make a loan if the borrower meets certain conditions.
a lender's promise to issue a loan subject to certain conditions. The loan will not be funded until these conditions have been met.
Document which affirms the Department's commitment to insure a mortgage on a particular project or property. Term applies to both Single Family and Multifamily mortgage insurance.
A promise to insure (generally with FHA loans) payments of a definite loan amount on a particular piece of property for a buyer with satisfactory credit.
During HUD/FHA mortgage insurance processing, it indicates the satisfactory completion of technical processing involving the estimated cost of the project, the "as-is" value to the site, a detailed estimate of operating expenses and taxes, supportable costs, the financial and credit capacity of sponsors, financial requirements and mortgage amounts.
A promise made by a lender to give a loan if the borrower meets the specified requirements.
A loan commitment which is issued by an FHA lender which is good for six months. Is obtained by a seller planning on selling his home using FHA financing.
A written promise by a lender to make a loan, pending certain conditions to be met by the borrower.
A written document provided by a lender agreeing to make a loan provided certain conditions are met prior to closing.
Lender's promise to make a loan subject to the fulfillment of specified conditions.
