if my lender doesnt close the loan of closing date after i have already signed the contract, am i still obligated to their contr

Am I reading this right? Appears you signed a purchase agreement, and now the loan is not approved? Most purchase agreements easily allow you to back out if financing falls through. But this usually means they will keep any earnest money for wasting the sellers time. I lend in MN WI IA SD ND. I can be found at JoeMetzler.com - Cambria Mortgage NMLS 274132