BuyingBasic

What Is Financing Contingency?

A financing contingency lets a buyer cancel a purchase contract without penalty if they're unable to secure mortgage approval within a specified timeframe.

Most useful for: Repeat Buyer

At a Glance

Financing Contingency

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Definition

Plain-English meaning

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Related Terms

3 connected concepts

Related Terms

Contingency Pre-Approval Underwriting

More Buying Terms

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This definition is provided for general educational purposes and is not financial, legal, tax, or real estate advice. Verify important decisions with appropriately qualified professionals.

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