home purchase
Your Financing Condition Deadline
Understand how a contract’s financing deadline differs from lender approval, which status updates AMS can provide, and when to seek realtor or legal advice.
What you’ll learn
- Check the specific date and time in your purchase contract.
- A contractual deadline is not a promise of lender approval by that time.
- AMS can explain what has been received, what is outstanding and where the lender stands.
- Seek realtor or legal advice about possible extensions and the consequences of removing a condition.
- Do not waive financing based only on pre-approval or an incomplete lender review.
Transcript
Your purchase contract may include a financing condition that must be addressed by a specific date and time. This is a contractual deadline—not a promise that a lender will approve your mortgage by then.
We’ll prioritize the application and tell you what has been received, what remains outstanding and where the lender stands.
Your realtor and, if needed, your lawyer can advise about a possible extension or the legal consequences of removing a condition.
Please do not waive financing based only on a pre-approval or an incomplete lender review.
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General education only. Lender requirements and mortgage terms vary; this is not an approval, rate offer or guarantee. Contact AMS for advice about your circumstances.
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