FREE SAMPLE PRINTABLE BLANK LEGAL FORMS

free legal forms, legal forms, free printable legal forms, free legal forms online, legal will forms, guardianship legal forms,executive agreement, rental agreement, free rental agreements, free printable lease agreement, lease agreement, irs forms, tax forms,free medical excuse forms, irs tax forms, free printable tax forms, federal tax forms, job application forms, blank resume form free, free sample printable blank legal forms

Mortgage Commitment Letter

Effective: __________________ Expires: _____________________

Amount: $ _______________

_______________________________________________, described herein as LENDER, agrees that it will lend the sum of $__________ to _____________________, described herein as BORROWER, subject to the following terms and conditions:

1. Delivery of marketable title and title insurance. ________________ prior to closing shall deliver a mortgagee title insurance binder from a licensed title insurer, acceptable to LENDER, which will provide for the issuance at closing of a policy providing that the title is marketable, and free of all liens or charges other than current taxes and:
_______________________________________________________________

Borrower shall provide a current survey by a licensed surveyor showing no encroachments or defects.

A current building inspection report from a building inspector acceptable to LENDER showing no major structural defects. For purposes of this section, major shall be defined as requiring repair and being more than 3% of the purchase price.

This condition may be waived upon escrowing of sufficient funds at closing to be used to correct the described defects, which sums shall then be expended to complete the needed corrections.

That the zoning or other land development restrictions imposed by lawful authority shall permit use of the parcel as __________________________.

Credit life insurance sufficient to make monthly payments during a period of disability. If an amount is specified, credit life insurance is available from LENDER: ___. If no amount is specified credit disability insurance is not available from LENDER. In any event, credit life insurance if available from LENDER is not required to be purchased by BORROWER as condition of obtaining this extension of credit: you may either purchase through an insurance agency of your choice, or assign an existing policy.

Credit disability insurance sufficient to make monthly payments during a period of disability.

If an amount is specified, credit disability insurance is available from LENDER: _____. If no amount is specified credit disability insurance is not available from LENDER. In any event, credit disability insurance if available from LENDER is not required to be purchased by BORROWER as condition of obtaining this extension of credit: you may either purchase through an insurance agency of your choice, or assign an existing policy.

At the time of funding this commitment, the BORROWERS shall have experienced no material adverse change in employment.

That the following individuals execute a guarantee of prompt repayment of the loan in the form customarily used in this area for the same:
__________________________________________________________

The furnishing by the borrower of an appraisal from an appraiser acceptable to lender showing a loan to value ratio of at least ____%.

The commitment is further subject to the following additional terms:

Interest Rate (APR): ___

Loan Term: _____________

Points to be paid at closing by BORROWER: ___

If an amount is included below, PMI (Private Mortgage Insurance) is also required:
____________

If a date is stated below, the loan will balloon at that time:
_______, and the principal balance at that time will equal $
________.

Other fees due at closing:

________________________________________________.

Dated: _____________________________________


________________________________________________________
LENDER
by an authorized officer

Free Sample Printable Blank Legal Forms Disclaimer

The information contained in this web site is provided as a service to the Internet community, and does not constitute legal advice. We try to provide quality information, but we make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked to this web site and its associated sites and we make no claim that any of the free forms contained in this web site are appropriate for your particular needs.

As legal advice must be tailored to the specific circumstances of each case, and laws are constantly changing, nothing provided herein should be used as a substitute for the advice of competent counsel.

By using content and information from this website you agree to the following:

1) You will not rely on any information contained in this web site without personally consulting an attorney.

2) You agree that the free legal forms contained in this web site may not be appropriate for your particular needs and are offered for informational purposes only.

3) No attorney/client relationship is created between you and menagement staff of www.printable-legal-forms.com website by your viewing or use of any information or form contained in this web site.