Reina Marszalek

Mar 27, 2024 | credible.com | Reina Marszalek

Earnest money is a deposit you make to show that you’re serious about buying a home. To protect your earnest money deposit, you’ll want to include certain contingencies in your purchase agreement — such as contingencies for financing and a home inspection. Once the purchase agreement has been signed, the seller’s real estate agent will place the earnest money in an escrow account until closing. What is earnest money?

Mar 25, 2024 | credible.com | Reina Marszalek

When taking out a mortgage, you might have to provide a lump sum of money as the down payment. Requirements vary, but even a small down payment can become an issue if you’re strapped for cash. Down payment assistance programs can help you bridge the gap between what you’ve saved and what you need to put down. There are more than 2,500 grant and loan programs nationwide that can provide down payment assistance, according to a report by the Urban Institute.