Loan Commitment in Condo Purchases: A Guide for Lenders & Borrowers
Importance of Loan Commitment in Condominium Unit Purchase When financing a condominium unit purchase, a borrower, working with his or her lender, has a set amount of time to obtain a loan commitment. The borrower’s application to the lender for the loan commitment triggers the underwriting of the borrower and the eligibility evaluation of the […]