Common use of Mortgage Contingency Clause in Contracts

Mortgage Contingency. This Contract is contingent upon Buyer securing by , 20 ("First Commitment Date") a firm 32 written mortgage commitment for a fixed rate or an adjustable rate mortgage permitted to be made by a U.S. or Illinois savings and loan association, 33 bank, or other authorized financial institution, in the amount of (strike one) $ OR % [percent] of the Purchase Price, the 34 interest rate (or initial interest rate if an adjustable rate mortgage) not to exceed % per year, amortized over years, payable monthly, loan 35 fee not to exceed %, plus appraisal and credit report fee, if any ("Required Commitment"). If the mortgage secured by the Required 36 Commitment has a balloon payment, it shall be due no sooner than years. Buyer shall pay for private mortgage insurance as required by the

Mortgage Contingency. This Contract is contingent upon Buyer securing by , 20 ("First Commitment Date") a firm 32 24 written mortgage commitment for a fixed rate or an adjustable rate mortgage permitted to be made by a U.S. or Illinois savings and loan association, 33 25 bank, or other authorized financial institution, in the amount of (strike one) $ OR % [percent] of the Purchase Price, the 34 26 interest rate (or initial interest rate if an adjustable rate mortgage) not to exceed % per year, amortized over years, payable monthly, loan 35 27 fee not to exceed %, plus appraisal and credit report fee, if any ("Required Commitment"). If the mortgage secured by the Required 36 28 Commitment has a balloon payment, it shall be due no sooner than years. Buyer shall pay for private mortgage insurance as required by the

Mortgage Contingency. This Contract is contingent upon Buyer securing by _30 days post acceptance , 20 20_10 ("First Commitment Date") a 33 firm 32 written mortgage commitment for a fixed rate or an adjustable rate mortgage permitted to be made by a U.S. or Illinois savings and loan 34 association, 33 bank, or other authorized financial institution, in the amount of (strike one) $ OR $_97% [percent] of the Purchase Priceltv , the 34 interest rate (or initial interest rate if an 35 adjustable rate mortgage) not to exceed _5 % per year, amortized over 30 years, payable monthly, loan 35 fee not to exceed _na %, plus 36 appraisal and credit report fee, if any ("Required Commitment"). If the mortgage secured by the Required 36 Commitment has a balloon payment, it 37 shall be due no sooner than _na years. Buyer shall pay for private mortgage insurance as required by thethe lending institution. If a FHA or VA

Mortgage Contingency. This Contract is contingent upon Buyer securing by , 20 ("First Commitment Date") a firm 32 17 written mortgage commitment for a fixed rate or an adjustable rate mortgage permitted to be made by a U.S. or Illinois savings and loan association, 33 18 bank, or other authorized financial institution, in the amount of (strike one) $ OR % [percent] of the Purchase Price, the 34 interest rate (or initial interest rate if an adjustable rate 19 mortgage) not to exceed % per year, amortized over years, payable monthly, loan 35 fee not to exceed %, plus appraisal and credit 20 report fee, if any ("Required Commitment"). If the mortgage secured by the Required 36 Commitment has a balloon payment, it shall be due no sooner 21 than years. Buyer shall pay for private mortgage insurance as required by thethe lending institution. If a FHA or VA mortgage is to be obtained,

Mortgage Contingency. This Contract is contingent upon Buyer securing by , 20 ("First Commitment Date") a firm 32 17 written mortgage commitment for a fixed rate or an adjustable rate mortgage permitted to be made by a U.S. or Illinois savings and loan association, 33 18 bank, or other authorized financial institution, in the amount of (strike one) $ OR % [percent] of the Purchase Price, the 34 19 interest rate (or initial interest rate if an adjustable rate mortgage) not to exceed % per year, amortized over years, payable monthly, 20 loan 35 fee not to exceed %, plus appraisal and credit report fee, if any ("Required Commitment"). If the mortgage secured by the Required 36 21 Commitment has a balloon payment, it shall be due no sooner than years. Buyer shall pay for private mortgage insurance as required by the