Contracts
A contract contingency for mortgage financing protects the buyer by:
AGuaranteeing the lender will approve the loan
BAllowing the buyer to cancel and receive their deposit back if financing is not obtained✓ Correct
CRequiring the seller to provide seller financing
DSetting a maximum interest rate for the loan
Explanation
A mortgage contingency allows the buyer to exit the contract and recover their earnest money deposit if they are unable to obtain the specified financing.
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