Loan process for newly build single family property.
Hello BP,
I am in the process of getting a commitment letter from a Lender to comply with contractual terms. I am shopping around for the rate for a closing to take place sometimes in Oct/Nov but to get the builder know I am qualified, I am getting a commitment letter from their Lender. The lender sent me loan disclosure forms and want me to sign. What I want to know is that by signing these disclosure forms, am I telling the lender that I will only use them regardless of their rate or do I still have option to go with a different lender after signing the forms should I get a better deal without any concerns.
I am fairly new to the loan process so want to confirm if disclosure forms are not going to tie me down to one lender only and what should I look for in those forms to be more aware?
Any help is greatly appreciated. Thank you.