Common use of Mortgage Contingency Clause in Contracts

Mortgage Contingency. A. This Agreement is contingent upon Purchaser obtaining approval of a conventional, FHA or VA (if FHA or VA see attached required addendum) or mortgage loan of $ for a term of not more than years at an initial fixed or adjustable nominal interest rate not to exceed percent. Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within business days after the Seller has accepted this contract. Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Purchaser chooses to waive this mortgage contingency, Purchaser shall provide notice in writing to of Purchaser's receipt of the mortgage commitment or of Purchaser's waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before , then either Purchaser or Seller may within five business days of such date terminate this contract by written notice to . Upon receipt of such notice, this agreement shall be deemed cancelled, null and void and all deposits made hereunder shall be returned to Purchaser.

Mortgage Contingency. A. This Agreement agreement is contingent upon Purchaser obtaining approval of a conventionalConventional, FHA or VA (if FHA or VA VA, see attached required addendum) or mortgage loan of $ for a term of not no more than years at an initial fixed or adjustable nominal interest rate not to exceed % (percent). Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within business days after the Seller has accepted this contract. Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Purchaser chooses to waive this mortgage contingency, Purchaser shall provide notice in writing to of Purchaser's ’s receipt of the mortgage commitment or of Purchaser's ’s waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before , , then either Purchaser or Seller may within five business days of such date terminate terminate, or the parties may mutually agree to extend, this contract by written notice to . Upon receipt of such noticetermination notice from either party, and in the case of notice by the Purchaser, proof of Purchaser’s inability to obtain said mortgage approval, this agreement shall be deemed cancelled, null and void void, and all deposits made hereunder shall be returned to the Purchaser.

Mortgage Contingency. A. This Agreement Contract is contingent upon Purchaser obtaining approval of a conventionalConventional, FHA or VA (if FHA or VA VA, see attached required addendum) or mortgage loan of $ for a term of not more than years at an initial fixed or adjustable nominal interest rate not to exceed percentpercent or at the prevailing rate. Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within business days after the Seller has accepted this contract. Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment without conditions by the Purchaser or in the event Purchaser chooses to waive this mortgage contingency, Purchaser shall provide notice in writing to of Purchaser's receipt acceptance and execution of the mortgage commitment or of Purchaser's waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before , then either Purchaser or Seller may within five business days of such date terminate terminate, or the parties may mutually agree to extend, this contract by written notice to . Upon receipt of such noticetermination notice from either party, and in the case of notice by the Purchaser, proof of Purchaser's inability to obtain said mortgage approval, this agreement contract shall be deemed cancelled, null and void and all deposits made hereunder shall be returned to the Purchaser.

Mortgage Contingency. A. This Agreement agreement is contingent upon Purchaser obtaining approval of a conventionalConventional, FHA or VA (if FHA or VA VA, see attached required addendum) or mortgage loan of $ for a term of not more than years at an initial fixed or adjustable nominal interest rate not to exceed percent. Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within business days after the Seller has accepted this contract. Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Purchaser chooses to waive this mortgage contingency, Purchaser shall provide notice in writing to of Purchaser's ’s receipt of the mortgage commitment or of Purchaser's ’s waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before , , then either Purchaser or Seller may within five business days of such date terminate terminate, or the parties may mutually agree to extend, this contract by written notice to . Upon receipt of such noticetermination notice from either party, and in the case of notice by the Purchaser, proof of Purchaser’s inability to obtain said mortgage approval, this agreement shall be deemed cancelled, null and void and all deposits made hereunder shall be returned to the Purchaser.

Mortgage Contingency. A. This Agreement Contract is contingent upon Purchaser obtaining approval of a conventionalConventional, FHA or VA (if FHA or VA VA, see attached required addendum) or mortgage loan of $ for a term of not more than years at an initial fixed or adjustable nominal interest rate not to exceed percentpercent or at the prevailing rate. Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within business days after the Seller has accepted this contract. Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment without conditions by the Purchaser or in the event Purchaser chooses to waive this mortgage contingency, Purchaser shall provide notice in writing to of Purchaser's receipt acceptance and execution of the mortgage commitment or of Purchaser's waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before , then either Purchaser or Seller may within five business days of such date terminate terminate, or the parties may mutually agree to extend, this contract by written notice to . Upon receipt of such noticetermination notice from either party, and in the case of notice by the Purchaser, proof of Purchaser's inability to obtain said mortgage approval, this agreement contract shall be deemed cancelled, null and void and all deposits made hereunder shall be returned to the Purchaser.

Mortgage Contingency. A. This Agreement agreement is contingent upon Purchaser obtaining approval of a conventional, FHA or VA (if FHA or VA VA, see attached required addendum) or mortgage loan of $ for a term of not more than years at an initial fixed or adjustable nominal interest rate not to exceed percent. Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within business days after the Seller has accepted this contract. Purchaser Xxxxxxxxx agrees to apply for such a mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Purchaser chooses to waive this mortgage contingency, Purchaser shall provide notice in writing to of Purchaser's ’s receipt of the mortgage commitment or of Purchaser's ’s waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding proceeding sentence has not been received on or before , then either Purchaser or Seller may within five business days of such date terminate this contract by written notice to . Upon receipt of such notice, this agreement shall be deemed cancelled, null and void and all deposits made hereunder shall be returned to Purchaser.

Mortgage Contingency. A. This Agreement agreement is contingent upon Purchaser obtaining approval of a conventionalConventional, FHA or VA (if FHA or VA see attached required addendum) or mortgage loan of $ for a term of not no more than 20/30/40 years at an initial fixed or adjustable nominal interest rate not to exceed % (percent). Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within business days after the Seller has accepted this contract. Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Purchaser chooses to waive this mortgage contingency, Purchaser shall provide notice in writing to of Purchaser's ’s receipt of the mortgage commitment or of Purchaser's ’s waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before , then either Purchaser or Seller may within five business days of such date terminate terminate, or the parties may mutually agree to extend, this contract by written notice to . Upon receipt of such noticetermination notice from either party, and in the case of notice by the Purchaser, proof of Purchaser’s inability to obtain said mortgage approval, this agreement shall be deemed cancelled, null and void void, and all deposits made hereunder shall be returned to the Purchaser.

Mortgage Contingency. A. This Agreement Contract is contingent upon Purchaser obtaining approval of a conventionalConventional, FHA or VA (if FHA or VA VA, see attached required addendum) or mortgage loan of $ for a term of not more than years at an initial fixed or _adjustable nominal interest rate not to exceed percentpercent or at the prevailing rate. Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within business days after the Seller has accepted this contract. Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment without conditions by the Purchaser or in the event Purchaser chooses to waive this mortgage contingency, Purchaser shall provide notice in writing to of Purchaser's receipt acceptance and execution of the mortgage commitment or of Purchaser's waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before , then either Purchaser or Seller may within five business days of such date terminate terminate, or the parties may mutually agree to extend, this contract by written notice to . Upon receipt of such noticetermination notice from either party, and in the case of notice by the Purchaser, proof of Purchaser's inability to obtain said mortgage approval, this agreement contract shall be deemed cancelled, null and void and all deposits made hereunder shall be returned to the Purchaser.

Mortgage Contingency. A. a. This Agreement agreement is contingent upon Purchaser Buyer obtaining approval of a conventional, a: Conventional FHA or VA (if FHA or VA VA, see attached required addendum) or _mortgage loan of $ for a term _, or % of not more than years purchase price at an initial fixed or adjustable nominal interest prevailing rate not to exceed percentof interest. Purchaser Xxxxx agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within three (3) business days after the Seller has accepted this contractattorney approval. Purchaser Xxxxx agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Purchaser Xxxxx chooses to waive this mortgage contingency, Purchaser Xxxxx shall provide notice in writing to Xxxxx’s attorney and Xxxxxxx broker of PurchaserXxxxx's receipt of the mortgage commitment or of PurchaserXxxxx's waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before _, then either Purchaser Buyer or Seller may within five business days of such date terminate terminate, or the parties may mutually agree to extend, this contract by written notice to Xxxxx’s attorney and Xxxxx’s broker. Upon receipt of such noticetermination notice from either party, and in the case of notice by the Buyer, proof of Xxxxx's inability to obtain said mortgage approval, this agreement shall be deemed cancelled, null and void and all deposits made hereunder shall be returned to Purchaserthe Buyer. If Buyer does not receive clear to close by Xxxxx’s lender within twenty (20) business days of the Commitment Date, then upon no less than three (3) business days notice at any time thereafter, Seller may terminate this contract by written notice to Buyer in accordance with Paragraph #25 of this contract.