I have applied for a mortgage from a mortgage broker and he recently gave me a loan commitment letter. But there is no mention of the lender or the underwriter. I have some doubts regarding this are as below

  1. Is this normal? Can I trust a loan commitment from the broker, even though he is not the real person giving me the loan?

  2. The date till which the document is valid, (which is mentioned in the document) is 15 days before the closing. Can that be a mistake? How can I close the loan, if the commitment is expiring before the closing?

  3. One of the conditions mentioned in the commitment letter, will only hold, till its expiration date and this is already known by the broker. In that case it is legal/valid on his part to issue this letter?
  • 1
    Tagged USA from other questions by @summerboy
    – sdg
    Sep 1, 2011 at 2:22
  • 1
    The answers to this question money.stackexchange.com/questions/2390/… should give you some more information, particularly the links in the answer chosen. That question is NOT a duplicate of yours! I don't think this sounds very encouraging for you (read the scenarios in those answers), but I don't have sufficient experience or knowledge to give a proper answer. Sep 7, 2011 at 5:46

1 Answer 1


The mortgage commitment letter you describe will not help you because of it's expiration before you need it.

From a legal point of view, you have nothing in writing that covers your needs (a loan on your closing date).

I've heard of lenders giving out letters of pre-approval, which is still subject to final approval. I've also heard that lenders are more frequently re-pulling credit 1 or 2 days before closing to make sure nothing has changed and denying the loan if there has been any change even if they had previously approved the loan.

I'm not sure there is any letter you can get prior to your actual loan that guarantees you will get a loan on the day in question.

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