financing contingency: What does it mean to have a Loan or Financing Contingency? - 05/22/11 10:42 PM
Loan or Financing Contingency
Loan contingency is the period of time the seller is giving you to obtain full, formal loan approval. It is important to include a financing contingency in your offer, as it makes the transaction dependent on you receiving the mortgage you've applied for. It specifies your cancellation rights if you are unable to obtain financing.
 
This contingency is typically between 15 and 30 days depending on what has been negotiated in the contract. The earnest money deposit you make at the time the offer is accepted will be put in jeopardy once the contingency for the loan … (7 comments)

 
John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 http://TexasLoanGuy.com)

John Cannata

Texas Home Mortgage - Purchase or Refinance

Frisco, TX

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214-728-0449 http://TexasLoanGuy.com

Address: 1515 Heritage Drive # 207, McKinney, TX, 75069

Office: (214) 728-0449

Mobile: (214) 728-0449

As a resident of Frisco Texas and a licensed Texas Home Mortgage Professional, it is my job to remove the stress out of financing or refinancing your home. I do this by providing ongoing updates, being available for questions, and ultimately delivering 'as promised' with not surprises. My goal is to become your consultant for life and for you to rely on me to assist your family and friends as well.
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