Loan Contingency Date
A loan contingency date (also known as a financing contingency date) is the date or number of days from contract signing / acceptance that a buyer has to secure their loan commitment (or report that they have been rejected by their lender by no fault of their own).
While the loan contingency date is often spelled out specifically in a homebuying contract, in practice, buyers often request additional time as their lender requires more and more personal financial disclosures to process their loan application.
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