Question about cancellation clause in contract – buying a house

As title says , on Saturday we’ll be signing the contract at the realtor for buying a house. Since we still need to submit the final mortgage application after signing the contract which is basically a intent to buy the house , what to expect about the cancellation clause in such a contract?
I understand that if we decide not to go through with the purchase ourselves you forfeit the deposit but what about if you can finalize the mortgage?

by djctiny

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