Earnest money deposit Pre-approval Proof of funds 
Redfin
JULY 14, 2025
The money is held in escrow and is typically applied towards the buyer’s closing costs or down payment. So when can a seller legally keep the earnest money deposit? Failing to deliver required documents (like updated proof of funds or loan pre-approval) by the contract deadlines.
Rochester Real Estate
NOVEMBER 5, 2015
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. You don’t want to be denied the loan after being approved.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Redfin
JULY 30, 2025
Should I get pre-qualified or pre-approved for a mortgage? If you’re considering buying a home, you’ve likely heard of getting pre-qualified or pre-approved. Pre-qualification: An informal lender evaluation of your finances, estimating affordability. Schedule a final walkthrough of the property.
Redfin
JUNE 12, 2025
Strong earnest money deposit: A higher deposit signals you’re serious and financially committed; giving sellers more peace of mind. Proof of financing or cash offers: Pre-approval or proof of funds reassures sellers that you can follow through and the deal won’t fall apart.
RIS Media
OCTOBER 22, 2020
If the listing agent is allowed to disclose the other offers, make sure to obtain written approval from the seller before discussing this. Your client should also come prepared with a few other things: a pre-approval letter, earnest money deposit and, if they are paying cash, a proof of funds document.
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
AUGUST 29, 2024
Debt-to-income ratio (DTI) Another major factor that a lender will consider when approving your mortgage loan is your debt-to-income ratio (DTI). Get pre-approved As you’re researching how to buy a house, you will want to get a mortgage pre-approval. What’s an earnest money deposit?
Expert insights. Personalized for you.
Let's personalize your content