Contingency
Contingency
A contingency is a future event that may or may not happen. In the legal sense, a contingency is something that has to happen before a contract or agreement goes into effect. Contingencies are common in real estate contracts; a homeowner who wants to buy a different home may make an offer that lists the sale of the first home as a contingency. This means that the homeowner is not bound to purchasing the second home until the first one sells.
Get Mortgage Rates
National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed |
4.83 |
| 15 yr fixed | 4.38 |
| 5/1 ARM | 3.68 |
Rates may contain points
