1. A mortgage commitment will commit the funds with certainty to the borrower. 2. A mortgage pre-approval will state the
Posted: Sun May 29, 2022 6:20 pm
1. A mortgage commitment will commit the funds with certainty to the borrower.
2. A mortgage pre-approval will state the interest rate the lender will use if the buyer continues with this lender and gets a commitment from them.
3. A mortgage commitment refers to a letter from the lender agreeing to make the loan subject to satisfactory title and other conditions specified in that commitment.
4. A mortgage pre-approval could only be for a specified amount of time
2. A mortgage pre-approval will state the interest rate the lender will use if the buyer continues with this lender and gets a commitment from them.
3. A mortgage commitment refers to a letter from the lender agreeing to make the loan subject to satisfactory title and other conditions specified in that commitment.
4. A mortgage pre-approval could only be for a specified amount of time