Home > Personal > Personal Lending > Mortgage > Mortgage Resources > Glossary > Contingency Contingency November 9, 2021 A condition that must be met before a contract is legally binding. For example, a lender’s commitment to provide financing to a borrower may be contingent on receipt of an acceptable appraisal.You Might Also Like: Family MattersBack to School Savings: Tips for Stretching Your Budget Everyday MoneyBuilding and Maintaining Financial Health Throughout Your Life Everyday MoneyWhat Is A One-Time Passcode (or verification code) And Why Would Someone Ask Me For It? Living QuartersFirst-Time Homebuyer’s Playbook: 4 Steps to a Successful Offer Everyday MoneyBank Holidays: Understanding Their Impact on Deposits and Transactions
