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CONVENTIONAL FINANCING ADDENDUM 2025

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The document is a Conventional Financing Addendum to a Contract of Sale, outlining the terms and conditions under which the Buyer must secure a conventional loan for purchasing a property. It details loan specifics such as amount, term, interest rate, and responsibilities for fees and insurance. The addendum includes provisions for required repairs by the Seller, an appraisal contingency, and the process for handling discrepancies between the appraised value and purchase price. It emphasizes that all other contract terms remain in effect.

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Versions	Form popularity	Fillable & printable
2023	4.7 Satisfied (38 Votes)
2015	4.7 Satisfied (38 Votes)

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What is the addendum to a mortgage contract?

It is a form that outlines financing details necessary for property purchases. Who should fill out this addendum? This form should be filled out by the buyer and seller in a real estate transaction.

What is conventional financing?

A real estate addendum modifies an original lease or purchase agreement. Items in the addendum could reflect a change in the agreed-upon price, what is included in the transfer of property, what improvements must be made before the home is paid for, or any other agreed-upon requests or responsibilities.

What is a conventional financing addendum?

A financing addendum gives the buyer a specified amount of time to obtain financing to purchase the new home. If the buyer cannot secure financing, the addendum allows the termination of the contract or a time extension to explore other mortgage options.