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Resources > Glossary > Commitment Letter

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Commitment Letter

Function: noun

Definition 1:
A commitment letter is a formal offer by a lender stating the terms under which it agrees to lend money to a home buyer. A commitment letter is also known as a "loan commitment", firm commitment, or a standby loan commitment.

Thesaurus / Related Terms
Contract