The deposit money given to the seller or his agent by the potential buyer upon the signing of the agreement of sale to show that he is serious about buying the house. If the sale goes through, the earnest money is applied against the down payment. If the sale does not go through, the earnest money will be forfeited or lost unless the binder or offer to purchase expressly provides that it is refundable.
Global State Mortgage powered by APM | NMLS #1850
This material is provided for informational purposes only and is not guaranteed to be accurate or complete. The programs described may not include all available options or pricing structures. Rates, terms, programs, and underwriting policies are subject to change without notice. Refinancing may result in higher total finance charges over the life of the loan. This is not an offer to extend credit or a commitment to lend. All loans are subject to underwriting approval. Certain products may not be available in all states and restrictions may apply. Please consult your loan advisor for complete details. Equal Housing Opportunity.
