Definition

Contingency

A condition in a purchase contract that must be satisfied for the deal to proceed. Common ones cover financing, appraisal, inspection and sale of an existing home.

Nearby terms

Comparable Sales Recently sold properties similar in location, size and condition, used to establish market value. Conforming Loan A loan meeting Fannie Mae and Freddie Mac guidelines, including the annual conforming loan limit, and therefore saleable to them. Conventional Loan A mortgage not insured or guaranteed by a government agency. Credit Utilization Revolving balances as a percentage of available credit.

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