A loan commitment refers to a lender's promise to provide a loan to a borrower under certain conditions. A loan commitment may be conditional on the borrower meeting certain requirements, such as providing more information or agreeing to a higher interest rate.
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What does loan commitment mean?
Related terms
Title Contingency
Liability Insurance
Payment Cap
Mortgage broker
Original Principal Balance
Breach of Covenant
Individual Retirement Account
Credit History
Estimated Gross Costs of Buying
Common-Area Assessments
Commitment Fee
Loan Origination Fee
Appraisal Fee
Homesteading
PRE -ALTA
Finish Grade
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