Common causes
Delays often come from appraisal scheduling or low values, title issues, condo or HOA questionnaires, insurance placement, missing income or asset documents, and last-minute credit changes. Many can be avoided by answering requests quickly and avoiding new debt.
Your contract deadlines
Purchase contracts set deadlines for financing and closing. If the loan will not be ready, talk with your agent about a written extension before the deadline passes, not after.
Common causes of mortgage closing delays, what disclosures change, and how to protect your purchase contract.
Disclosure resets
If the annual percentage rate becomes inaccurate beyond the allowed tolerance, the loan product changes, or a prepayment penalty is added, the Closing Disclosure must be reissued and a new three-business-day waiting period applies. Other changes can be corrected without a new waiting period.
Lock and costs
A delay may push you past your rate lock. Ask who pays any extension, and whether a revised Loan Estimate will be issued.
Communication
Ask your loan officer for a written list of open conditions and a target date for each. A shared checklist keeps the buyer, agent, lender and settlement agent on the same page.
If the deal falls apart
If financing fails before your contract's financing deadline and the contract has a financing contingency, you may be able to cancel and recover your earnest money, depending on the contract terms. After the deadline passes, the money may be at risk. Ask your agent or a real estate attorney to explain your contract before any deadline, not after it.
Sources
Sources checked 10/23/2026. General education only; confirm current rules with official sources and a licensed lender.