What is the difference between mortgage approval letter (not pre-approval) & commitment letter?
commitment letter according to this source:
A loan commitment letter is an indication that the buyer’s home loan has been approved. It is different from a lender pre-qualification letter, which indicates that a lender has reviewed some preliminary information provided by the borrower verbally, but has not yet reviewed financial documentation. It is also different from a pre-approval letter, which indicates that the lender has reviewed financial documents and is awaiting final review and appraisal for a particular home purchase.
I'm curious if mortgage lender can decline the loan after both approval letter & commitment letter were issued?