waiting on the bank

So we are waiting on the bank regarding our mortgage. Does anyone know if the assess the house prior to us getting the commitment letter. Once we get that what is the next step? TIA!

Re: waiting on the bank

Usually the commitment letter is what tells you that the bank will give you the loan under your specific loan conditions. One condition will definitely be that the house must appraise for what your paying for (or in that ball park).

Re: waiting on the bank

this is what has happened for us so far:
We were pre-approved prior to the offer, pre-contract agreement, then contract.

After that:
1) Appraisal
2) Commitment Letter
3) HUD form (application for official mortgage) sent to us and now sent back all signed.
4) Title is actually done before HUD form but waiting on that to be officially cleared up.
5) Survey ordered - unknown status

Now we are just waiting to see what happens next, think as long as title is okay and cleared i am thinking we get a closing date then.