No you should not loose your deposit provided there is a financing contingency in the contract, which means the contract is not ratified until you receive loan approval. If this a concern it is always best to be pre-approved for your loan before you sign a contract. If you need assistance I can be reached toll free 800-485-1387 Ext 166 or email ballen@bankofengland1.com.
No.. typically real estate contracts state that your purchase is subject to financial approval. If you don't get the financing, they have to refund you your earnest money deposit.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
You should get your earnest money back if your loan is not approved.
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