A commitment letter for secondary financing typically is requested to verify the terms, amount committed, other information associated with the financing. It is a formal offer from a lender stating the terms of the money loaned to the homebuyer.
Documents are typically requested for any financing that creates a lien against a property. In addition to the commitment letter, the customer also may be asked to provide:
- The final HUD-1 statement reflecting receipt of net proceeds
- A copy of the note
- A copy of a payment statement
Avoid delays in processing your loan
For all documents:
- Make sure the copies you send are legible.
- Do not include documents that have been altered with correction fluid or by other means.
- Submit the entire requested document and include all pages (even blank ones).