### Question
What does loan commitment mean?


### Answer
**Loan commitment** has the following meaning in *12 U.S.C. § 4905*:

> a prospective mortgagee's written confirmation of its approval, including any applicable closing conditions, of the application of a prospective mortgagor for a residential mortgage loan

#### Citation:
  - *12 U.S.C. § 4905*
  - Heading: **CHAPTER 49-HOMEOWNERS PROTECTION**

