Question > Category > Real Estate

Q » What is a mortgage contingency and why include it?

Matthew

29 Oct, 2025

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A » A mortgage contingency is a clause in a real estate contract that makes the purchase dependent on the buyer obtaining financing. It protects buyers by allowing them to back out of the deal if their mortgage application is denied, without losing their deposit. Including a mortgage contingency is crucial as it safeguards the buyer’s financial interests and ensures they are not obligated to purchase a property they cannot finance.

Michael

30 Oct, 2025

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A »A mortgage contingency is a clause in a home purchase contract that allows the buyer to back out if they can't secure a mortgage. It's included to protect the buyer from losing their deposit if financing falls through, providing a safe exit strategy and reducing financial risk.

David

30 Oct, 2025

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