This section allows the parties to indicate whether there is a financing contingency to the Buyer’s obligation to close. Buyer must indicate this by checking the appropriate box that either indicates there is no financing contingency and they will be paying by cash or a loan or that the Contract is contingent upon Buyer obtaining a loan commitment. With a contingent Contract, Buyer must obtain a written loan commitment within a specified amount of days. If the days are not specified, the default is 30 days. The type of loan must be specified and the Buyer must indicate whether loan is fixed or adjustable. The initial interest rate percentage must also be indicated.