Cash To Close, Beware, It’s More Than Just Your Down Payment! Have you been thinking about buying a home? Maybe you have even started the homebuying process? There is one thing you are probably beginning to realize. The real estate industry uses its own vocabulary! A vocabulary of terms and acronyms tossed around as if people from all walks of life use them everyday. Earnest money, discount points, closing disclosure, DTI, VOE, LTV… feeling confused? You […]
What is an Earnest Money Deposit?
What is an earnest money deposit? How much is an earnest money deposit? What happens to earnest money once it Is deposited with the title and escrow company? And what happens to the money if the sale does not close?