The commitment letter states that, for a fee, the applicant has the right but not the obligation to require the lender to provide funds at a certain interest rate and on certain terms.

Question

Quizplus · Accepted Answer

The commitment letter gives the applicant the right to require the lender to provide funds at a certain interest rate and on certain terms, but it does not obligate the applicant to do so.

The Commitment Letter States That, for a Fee, the Applicant