Earnest Money
A deposit made to show serious intent to purchase a property
Full Definition
Why It Matters
Understanding earnest money helps you make informed decisions about your mortgage. This knowledge can save you money and help you avoid common pitfalls in the homebuying process.
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Frequently Asked Questions
Earnest Money refers to a deposit made to show serious intent to purchase a property. This is an important concept in mortgage lending that affects how your loan works.
Understanding earnest money can help you make better decisions about your mortgage. Contact NMHL for personalized guidance on how this applies to your situation.
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