Should I include a mortgage (financing) contingency?

A financing contingency protects a buyer's earnest money if the loan falls through for reasons outside their control. Waiving it can make an offer more competitive in a multiple-offer situation, but it puts that deposit at risk if underwriting denies the loan. Buyers with a strong pre-approval and comfortable reserves sometimes accept that risk; buyers stretching to qualify usually should not. Talk through the tradeoff with your lender and agent before deciding.