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Loan Commitment |
Also found in: Financial | 0.02 sec. |
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Commitment to a borrower by a lending institution that it will loan a specific amount at a certain rate on a particular piece of real estate. Such commitment is usually limited to a specified time period (e.g., four months), which is commonly based on the estimated time that it will take the borrower to construct or purchase the home contemplated by the loan. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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