---
title: The Loan Application Deadline is Important to Massachusetts Homebuyers
description: Massachusetts has two different offer to purchase real estate contracts commonly used by real estate professionals.
---

[Massachusetts Home Buyer Guide, First-time Homebuyer Tips, Advice MA ](https://info.buyersbrokersonly.com/blog)

# [The Loan Application Deadline is Important to Massachusetts Homebuyers](https://info.buyersbrokersonly.com/blog/what-does-a-loan-application-deadline-mean-for-massachusetts-homebuyers)

 Written by [Rich Rosa](https://info.buyersbrokersonly.com/blog/author/rich-rosa) | Nov 25, 2019 1:58:21 AM

Massachusetts has two "offer to purchase" real estate forms commonly used by real estate professionals.

1. The Massachusetts Association of Realtors (MAR) Contract to Purchase; and

2. The Greater Boston Real Estate Board (GBREB) Offer to Purchase Real Estate.

<https://info.buyersbrokersonly.com/home-listings>Both offer forms have a mortgage financing contingency that allows the buyer to cancel the transaction and receive their deposit(s) back if the buyer is unable to obtain a mortgage loan commitment by the specified date set forth in the contingency.

Also, both forms have a loan application deadline with specific language that states the buyer has to formally apply for a [mortgage loan](https://info.buyersbrokersonly.com/loan) within a certain amount of time from the date of the accepted offer.

The following is the Massachusetts Association of Realtors' language about the loan application deadline in its Contract to Purchase:

> *In no event shall the BUYER be deemed to have used reasonable efforts to obtain financing unless the BUYER has submitted one application by _______________ and acted reasonably promptly in providing additional information requested by the mortgage lender.*

The following is the Greater Boston Real Estate Board's language about the loan application deadline in its Offer to Purchase Real Estate contingency addendum:

> *In no event will the BUYER be deemed to have used diligent efforts to obtain such a [loan] commitment unless the BUYER submits a complete mortgage loan application conforming to the foregoing provisions on or before _______________.*

As is evident from the excerpts above, each form's loan application deadline language is very similar to the other. Both require the following from Massachusetts homebuyers "under contract" on a home and applying for a mortgage loan.

A. Each offer form sets a deadline for the buyer to formally apply for a mortgage loan.

B. Though MAR's form is more specific, both contracts require the buyer to apply for a mortgage loan with at least one mortgage lender.

C. Both forms require the buyer to not just apply for a mortgage loan, but also timely provide any documents/forms the lender may request during the loan application and underwriting process.

Additionally, the standard form [purchase and sale agreements](https://info.buyersbrokersonly.com/blog/bid/183208/massachusetts-purchase-and-sale-agreement-p-s-anything-but-standard) for both MAR and GBREB incorporate the same language into each respective mortgage financing contingency provision. Very often, no matter what purchase and sale agreement form a buyer agent uses, a seller's [real estate lawyer](https://info.buyersbrokersonly.com/find-a-real-estate-lawyer) is going to include a "rider" to the purchase and sale agreement. The rider is also going to specify that a buyer must (a) apply for a loan with at least one mortgage lender and (b) diligently respond to any requests that lender makes as part of the mortgage loan application process.

Failure of a buyer to complete at least one mortgage loan application by the loan application deadline and/or timely respond to requests by the lender could jeopardize the buyer's ability to receive the refund of his or her [deposit(s)](https://www.buyersbrokersonly.com/buying/massachusetts-home-purchase-deposit-versus-down-payment), if the buyer is unable to obtain a [mortgage financing loan commitment](https://info.buyersbrokersonly.com/blog/loan-committment-date-critical-for-massachusetts-home-buyers) by his or her lender by the deadline in the offer or purchase and sale agreement.

[View full post](https://info.buyersbrokersonly.com/blog/what-does-a-loan-application-deadline-mean-for-massachusetts-homebuyers)

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