Earnest money deposit Lending Pre-approval 
Redfin
JULY 17, 2025
Earnest money deposit: A higher deposit signals serious intent and financial stability. Get pre-approved: A pre-approval shows the seller you’re financially ready and serious—it’s stronger than a pre-qualification. Showing you’re serious with a solid earnest money deposit.
Redfin
JULY 9, 2025
Between setting a budget, getting pre-approved, and closing the deal, getting everything squared away can make all the difference. Get pre-approved for a mortgage Estimated time: 1-2 weeks A mortgage pre-approva l is a lender’s assessment of how much they’re willing to lend you based on your income, assets, debts, and credit history.
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Redfin
MARCH 26, 2025
It protects the buyers earnest money and limits their financial risk if their financing falls through. Even if youve been pre-approved , things like a low appraisal, a job loss, or changes in your credit can derail the loan process. Unusual homes can cause appraisal challenges that impact loan approval.
Rochester Real Estate
NOVEMBER 5, 2015
A mortgage lender will check your credit score and financial history to decide how much they can lend to you. A pre-approval letter must be included, and proof of funds can also help in a seller’s market. If your offer is accepted, you will sign a purchase agreement and pay an earnest money deposit.
Rochester Real Estate
NOVEMBER 5, 2015
In the simplest terms the main difference is that a bank has its own lending criteria and offers loans by using its own funds. For example, if you use a bank for your loan you may already have a pre-existing relationship with them and they sometimes offer very competitive interest rates. In contrast, a mortgage broker is a middleman.
HomeLight
SEPTEMBER 30, 2020
Buyers with lower credit scores or lower down payments can sometimes get an FHA loan even if they can’t get approved for a conventional loan. The forfeiture of earnest money deposits document means that HUD can retain your 5% deposit if you do not fulfill your end of the sales contract for some reason not already outlined in the contract.
Redfin
JULY 16, 2024
This guide will walk you through each phase of the mortgage loan process, from pre-approval to post-closing, with examples to illustrate key points. Step 4: Get pre-approved Submit pre-approval applications: Apply to multiple lenders to get pre-approved.
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