Redfin

AUGUST 6, 2025

When a home is in escrow, it means the buyer and seller have signed a purchase agreement, and an escrow account has been opened to securely hold the buyer’s earnest money deposit. The escrow account holds the deposit along with important documents like the purchase contract, loan paperwork, and the deed.

Redfin

AUGUST 5, 2025

Contingent offers protect your earnest money deposit In real estate transactions, once an offer is accepted, buyers demonstrate their seriousness by sealing it with a deposit of  earnest money. If the sale of the buyer’s current home falls through, they would be forced to give up their earnest money.

Earnest money deposit

Redfin

JULY 30, 2025

Get pre-approved for a mortgage and have cash ready One of the biggest signals to sellers that you’re serious is a mortgage pre-approval letter. In addition to getting pre-approved, having cash reserves prepared for your earnest money deposit and other closing expenses is also one of the top tips for making an offer on a house.

Earnest money deposit

Redfin

JUNE 11, 2025

Financing (mortgage) contingency A financing contingency , also known as a mortgage contingency, allows the buyer to back out of the sale if they’re unable to secure mortgage approval, usually 21 to 30 days. This real estate contingency protects buyers from overpaying and lenders from financing more than the home is worth.

Purchase and sale agreement

Redfin

JUNE 27, 2025

Key Takeaways: Shopping mortgage rates, reviewing your credit report, and looking into first-time home buyer programs can improve your financial situation and increase your choices. Even a small difference in your mortgage rate can really add up over the life of the loan, so it’s worth your time to shop around.

Pre-approval

Redfin

JULY 14, 2025

Walking away from one could cost you your earnest money deposit (typically 1%–3% of the home price), and in some cases, you could even be sued for breach of contract. Submit separate earnest money deposits for each offer Make a separate earnest money deposit for each offer.

Earnest money deposit

Redfin

JULY 21, 2025

Backing out without cause may result in losing your earnest money deposit. If you’re having doubts, want to reassess your finances, or simply change your mind, doing so before any paperwork is signed allows for a clean exit without risking earnest money or triggering legal consequences.

Earnest money deposit

Redfin

JULY 28, 2025

Similar to your earnest money deposit, these funds are placed into an escrow account, where they’re safely held until the bills need to be paid. These prepaid costs make sure important bills like property taxes and insurance are covered right from the start — even before your first mortgage payment is due.

Earnest money deposit

Redfin

JULY 9, 2025

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. It’s best to shop around to find the best rate and determine the best type of mortgage loan for you.

Pre-approval

Redfin

JULY 11, 2025

Buyer is unable to secure financing A financing or mortgage contingency protects buyers if they’re unable to get approved for a home loan. If this happens and they’ve included the right contingency, the buyer can usually walk away with their earnest money deposit.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

Your Credit Score With a better credit score , you will find it easier to get a mortgage and with better terms from the lender. A mortgage lender will check your credit score and financial history to decide how much they can lend to you. Compare what at least 3 lenders offer or go to a mortgage broker to find a lower interest rate.

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

Top Mortgage Blogs From 2017 Best Mortgage & Home Financing Blogs From 2017 We’re back! Top Mortgage Blogs From 2017 Best Mortgage & Home Financing Blogs From 2017 We’re back! This week we’re highlighting the best mortgage blogs from this year!

Finance

Redfin

JULY 30, 2025

In this article: Understanding if you’re ready to buy a home Budgeting for your first home Finding the right mortgage Navigating the homebuying process What comes next? You haven’t held a mortgage in three years. Job security: Stable employment and income are key indicators for lenders when qualifying for a mortgage.

Pre-approval

BAM Media

FEBRUARY 21, 2025

Im talking about those generic educational videosthings like 5 Tips for First-Time Homebuyers, What Is a Balloon Mortgage? Very rarely do people log on thinking, I really hope I learn something about earnest money deposits today! If rates drop, dont just post a What Is a Mortgage Rate? Tell a story.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

They don’t want you to lose your earnest money deposit either. Since being launched in 2013, Kyle has published more than 150 quality, in-depth, and unique real estate related articles on the Rochester Real Estate Blog pertaining to topics varying from home selling to mortgages and everything in between!

Inspection

Redfin

AUGUST 4, 2025

But letting your emotions override your financial limits, such as your pre-approved mortgage amount, comfort level with monthly payments or cost of upcoming repairs, can lead to regret later. You can strengthen your offer by offering a larger earnest money deposit or submitting a personalized offer letter.

Earnest money deposit

Redfin

MARCH 26, 2025

This protective clause in your purchase agreement can save you thousands if your mortgage falls through, but in todays competitive market, some buyers are tempted to waive it. Quick answer: A financing contingency gives buyers a way to walk away from the deal and keep their deposit if their loan application is denied.

Finance

Redfin

AUGUST 5, 2025

Buyers can benefit from the leg up in a competitive housing market, avoid mortgage fees and interest rates and save money in the long run. Taking out a mortgage is, of course, an option as well. Avoid paying interest: By paying all cash and not taking out a mortgage, you can avoid paying interest.

Earnest money deposit

Housing Wire

APRIL 9, 2025

I have even seen non-refundable earnest money deposits, Joe Tamburo, a Bergen County-based Coldwell Banker Realty broker, said. They are starting to question if they are going to live somewhere that no longer fits their life [style] just because of a mortgage rate. They are doing just about everything.

Earnest money deposit

Housing Wire

JANUARY 14, 2025

. “We’re creating an unprecedented platform that will secure the movement of Good Funds for our customers at every step of a real estate transaction, from the moment a buyer submits their earnest money deposit until the seller’s mortgage is paid off. This is the future of secure real estate transactions.”

Earnest money deposit

Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. 5 reasons to refinance your mortgage right now. The purpose?

Earnest money deposit

Housing Wire

DECEMBER 10, 2020

Users have access to digital earnest money deposits, online and mobile notarizations, instant remote access to closing documents, and real-time status updates on all open orders from anywhere and at any time. The post JetClosing expands to Austin housing market appeared first on HousingWire.

Earnest money deposit

Housing Wire

SEPTEMBER 25, 2020

Fidelity National Financial , a provider of title insurance and settlement services to the real estate and mortgage industries, is working to prevent wire fraud in today’s growing digital environment. And FNF is now expanding its startSafe offerings by allowing consumers to deposit their earnest money through the portal.

Earnest money deposit

Realtor.com

NOVEMBER 15, 2021

How much earnest money is normal? Here are eight mistakes with earnest money deposits that home buyers often make and how to avoid them. The post How Much Earnest Money Is Normal? Earnest Money Deposit Mistakes appeared first on Real Estate News & Insights | realtor.com®.

Earnest money deposit

Housing Wire

MARCH 29, 2022

Thanks to the mortgage industry’s rapidly evolving understanding of the power of asset data, the answer is a resounding “yes.” With 12 to 24 months of direct-source, digitally verified asset data, today’s mortgage lender can: Satisfy VOA requirements for Fannie Mae, Freddie Mac, U.S. Department of Veterans Affairs (VA), U.S.

Lending

Housing Wire

SEPTEMBER 14, 2023

Now, with buyers afraid of mortgage rates and sellers afraid to list, it makes sense that collaboration has become the name of the game — a way to show strength and inspire confidence in the face of sky-high expectations and unsettling circumstances. Consumer expectations have changed dramatically in the last few years.

Earnest money deposit

HomeLight

DECEMBER 12, 2023

Perhaps the biggest gear that needs to turn in your favor is the mortgage loan. A common worry among homebuyers is to find the perfect house, put down a deposit with an accepted offer, and then learn that your mortgage application is denied — you lose both the house and your earnest money.

Earnest money deposit

HomeLight

JANUARY 19, 2024

The decision to waive the mortgage contingency, while potentially making your offer more appealing, carries a sloshing bucket of risks and considerations. Learn More What is a mortgage contingency? A mortgage contingency is a clause found in most home purchase agreements that safeguards the buyer.

Earnest money deposit

Dwell Real Estate

JULY 10, 2020

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important (and often misunderstood) parts of the home-buying process. In the Sarasota area, home buyers will usually put down anywhere from 1 to 5 of the real estate purchase price as earnest money. (If

Earnest money deposit

GeekEstate

AUGUST 19, 2021

Since fraud tends to occur at times where money is being transferred , whether it’s an earnest money deposit or other closing costs, it’s time we look outside of old school methods and embrace technology to keep our personal information and money safe. Revolutionary Technology in Real Estate. We built Paymints.io

Earnest money deposit

Dwell Real Estate

JULY 10, 2020

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important (and often misunderstood) parts of the home-buying process. In the Sarasota area, home buyers will usually put down anywhere from 1% to 5% of the real estate purchase price as earnest money. (If

Earnest money deposit

HomeLight

JUNE 23, 2022

The danger to a seller in this scenario is having to pay an extra mortgage payment and additional marketing fees if, after weeks of being wrapped up in an exclusive agreement with a buyer, the buyer falls through. Earnest money is meant to compensate the seller for the time wasted in the event of a failed contract.

Earnest money deposit

HomeLight

JUNE 29, 2022

Require a sizable earnest money deposit. An earnest money deposit is a way for buyers to show that they’re committed to following through with the home sale. Buyers make this deposit after they’ve made an offer and you’ve both signed the purchase agreement. No mortgage pre-approval.

Earnest money deposit

HomeLight

SEPTEMBER 11, 2020

Get preapproved for a mortgage. The importance of getting preapproved for a mortgage can’t be overstated if you want your offer to be taken seriously. Determine how much earnest money to offer. The customary amount to put down as an earnest money deposit will vary based on your market.

Earnest money deposit

CT Homes

AUGUST 31, 2020

Most lenders or mortgage companies will issue a pre-qualification letter after reviewing the credit report and taking verbal information on income, assets and employment. Unless there is a massive earnest money deposit, they may be able to walk away if they find a property they like more while risking little.

Earnest money deposit

HomeLight

JANUARY 24, 2024

In this guide, we’ll break down the mortgage contingency date vs. the closing date, and how contingencies can impact your journey to homeownership. Find a Top Buyer’s Agent to Guide You HomeLight can connect you with a top-rated real estate agent familiar with mortgage contingencies and home listings in your area.

Earnest money deposit

Point2Homes

OCTOBER 6, 2020

However, when it comes to mortgages, cash can suddenly lose its appeal. Specifically, if you’re hoping to use cash that was deposited into your bank account to contribute to the down payment, you might want to reconsider. That’s because using cash for home deposits could look like fraud and affect your chances of getting a mortgage.

Debt-to-income ratio