A loan contingency refers to a condition in a real estate contract that allows the buyer to back out of the purchase if they are unable to secure a loan or mortgage for the property.
Sentences with «loan contingency»
Made an offer on this Newark home over asking, waiving the appraisal & inspection contingencies, reduced loan contingency. (redfin.com)
Loan or Financing Contingency Loan contingency is the period of time the seller is giving you to obtain full, formal loan approval. (alphamortgage.com)
Inspection and Loan Contingencies exist to protect the buyers» earnest money deposit in a transaction. (cahomeloanpro.com)