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Commitment Letter

A written offer by a lender to make a loan by a particular date under certain conditions. A buyer has more clout with a seller if he submits a letter of loan commitment from his lender to the seller at the same time that he submits his offer to purchase to the seller than a buyer who has not even applied for the loan yet.

See also:
  • Cap
  • Certificate of Occupancy
  • Certificate of Title
  • Clear Title
  • Closing
  • Closing Costs
  • Co-op ownership
  • Code of Ethics
  • Commitment Letter
  • Common Areas
  • Condominium
  • Conforming Loan
  • Construction Loan
  • Contingency
  • Conventional loan
  • Conventional mortgage
  • Convertible ARM
  • Conveyance
  • Cooperative ownership
  • Counteroffer
  • Covenant
  • Credit Rating
  • Credit Report
  • Credit Report Fee

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