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A commitment letter is often misunderstood as a borrower’s obligation to proceed with a mortgage. In reality, it is a document from the lender indicating their commitment to provide financing, contingent upon the fulfillment of specific conditions. These conditions may include an appraisal, a clean title, or final verification of employment. Essentially, the commitment letter assures you that the lender is prepared to lend you the money provided you meet their requirements. For additional guidance on the mortgage process or to get pre-qualified, assistance is available.