Definitions for "Mortgage Commitment"
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.
Keywords:  love, quoting, find, ensures, financing
a written document quoting rates, terms and conditions that ensures that your financing will be available when you find the home that you love