I just read this very interesting article about how the new rules regarding home appraisals are having some unintended negative consequences. I know this to be true because I just went through a similar situation with one of my clients. The appraisal for the home she was buying came in much lower than expected and…
Tag Archive: loan commitment
Mortgage Commitment Letters
Mortgage Loan Commitment And Mortgage Prequalification Letter Myths Every day at my office I get calls from Realtors with whom I work asking me for a prequalification letter for this client or that. A prequalification letter is nothing more than a letter on a mortgage company’s letterhead. It is not a mortgage commitment. If you…