I just signed a final contract on a house (single family in Illinois) and I waived the mortgage contingency. The reason I waved the contingency is because I had absolutely no concerns about getting a mortgage because of my other assets. To give some idea of the numbers (normalized so that the price of the house is 1000),

House cost = 1000; Cash reserves = 835; Stocks = 230; Downpayment = 680;

And I want to get a 320 mortgage.

However, because there was some negotiation during attorney review, I now only have 29 days until closing, and only now am I realizing that mortgages can take quite a lot of time. Now I'm panicking that the mortgage is not going to close on time. I could liquidate my stocks if necessary, but I really don't want to do that for many reasons. How worried should I be? What happens in practice if something is delayed? The worst case scenario is that if it doesn't come in on time (and I don't liquidate the stocks) the owners claim a breach of contract and walk away with the 5% escrow money.