Buying A Home
Dear Community,

Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.

If you have questions about this, please email help@theknot.com.

Thank you.

Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.

Mortgage Commitment Letter

My DH and I received our Commitment Letter yesterday from Chase - I'm amazed! They requested no additional paperwork or anything. It seems surreal. 

Is there anything else we need to do? Can anything go wrong at this point?

 Thank you!

 

Lilypie First Birthday tickers Lilypie Second Birthday tickers image image image

Re: Mortgage Commitment Letter

  • You'll still need a final "clear to close" but if everything has been smooth up til now you're probably safe. Congrats!
  • We close on Monday and have not been asked for anything extra either.  We keep emailing our loan officer asking "Are you sure you don't need anything from us?".
    Lilypie Third Birthday tickers
  • Today?s finicky credit markets are rendering mortgage contingencies a most common inclusion in purchase contracts.  A mortgage contingency makes the buyer?s commitment to purchase the property conditional upon the ability to obtain financing (technically getting the bank commitment vs. the mortgage itself). This is particularly the case in Manhattan, where a great proportion of loans fall in the jumbo category ($729k+).  Nowadays, having a contingency-free contract can be a fantastic bargaining chip in helping whittle the apartment price down further, such that the seller does not have to roll the dice on whether the buyer will or won?t be approved by the respective bank.

    what mortgage can i afford


     

Sign In or Register to comment.
Choose Another Board
Search Boards