I actually wanted to add to my answer a bit. The bank may still need a few other small things from you but all of the huge issues have been taken care of.
That's a great question! After your bank sends over an actual commitment letter to your Realtor, that means that your bank is saying that they have cleared all of your conditions (if any) and they are committing to giving you the loan for the home.
I hope this helps.
Some of the items on the list have already been mentioned............but most have to do with final job verfication...........proof of insurance, etc........and any other financial items that need clarification or last minute verification..
As was also mentioned below.....make sure you don't run out and buy that big flat screen tv or a new car or charge any big ticket items - they might affect your credit scores..............also do not close (or open) any credit cards during the mortgage processing time.
You want your financial situation to remain consistant during that time frame............after the closing - then you can go and celebrate!
We Wish you all the Best, John + Sheri Curci RE/MAX Properties 215-757-2889