Finance Inspection contingency Loan contingency Pre-approval 
HomeLight
AUGUST 31, 2021
The associated contingencies , which come with additional risks for the seller, are where you’ll find most key distinctions between a cash offer and an offer backed by a mortgage loan. The most obvious contingency with an offer that requires financing is, of course, the financing itself. Though you can (and should!)
HomeLight
MARCH 23, 2022
If they have underwriting approval, versus just a preapproval, they’re a much stronger buyer than someone with just a preapproval letter. Once you decide to buy a home, looking into your financing options should be one of the first steps. Buyers who go this route may even be able to remove their financing contingency.
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