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What is a commitment letter

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architectnycity
LIF Adult

Member since 1/06

2592 total posts

Name:

What is a commitment letter

does it mean you are approved?

Posted 6/13/06 10:14 AM
 
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kaklesmay
Love my baby boy!

Member since 9/05

1151 total posts

Name:
Kim

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.

Posted 6/13/06 10:24 AM
 

architectnycity
LIF Adult

Member since 1/06

2592 total posts

Name:

Re: What is a commitment letter

Is it normal for the contingencies to change a lot betweent the preapproval and the letter?

Posted 6/13/06 2:12 PM
 
 

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