Frequently Asked Questions
Earnest money is a deposit made to show serious intent when buying a home. It’s typically held in escrow and credited toward your down payment or closing costs if the deal goes through.
Besides the mortgage, include costs for property taxes, insurance, maintenance, utilities, and any HOA fees when estimating the total cost of owning a home.
Pre-qualification gives a rough estimate of what you can borrow based on self-reported information, while pre-approval involves a more in-depth review of your financials by a lender and provides a more accurate borrowing amount.
Saved
