Finance
A NH buyer's lender issues a 'commitment letter' after underwriting. This letter:
AGuarantees the buyer will receive the loan regardless of future events
BCommits the lender to fund the loan subject to specific conditions being met before closing✓ Correct
CReplaces the Closing Disclosure
DIs the same as the Loan Estimate
Explanation
A mortgage commitment letter commits the lender to fund the loan provided the borrower meets the stated conditions (title clear, insurance obtained, property appraised satisfactorily, no material change in borrower's financial status). It is an important milestone but not an unconditional guarantee.
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