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What is a commitment letter
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What is a commitment letter
does it mean you are approved?
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Posted 6/13/06 10:14 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
kaklesmay
Love my baby boy!
Member since 9/05 1151 total posts
Name:
Kim
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Re: What is a commitment letter
It means that if all the contingencies of the mortgage (verification of income, etc.) that are specified are met, you have a solid mortgage and the terms can not change.
It doesnt mean you need to close with it, but its yours if you choose to.
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| Posted 6/13/06 10:24 AM |
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Re: What is a commitment letter
Is it normal for the contingencies to change a lot betweent the preapproval and the letter?
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| Posted 6/13/06 2:12 PM |
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