Getting ready to shop for a home? An important part of the home buying process is making an earnest money deposit, or “EMD.” Also known as a “good faith deposit,” earnest money is a lump ...

Earnest money represents a good faith deposit by a homebuyer to sign a purchase agreement letter. An earnest money deposit shows a buyer's level of seriousness in purchasing the home from the seller.

You’ll give the seller an upfront deposit called earnest money — this deposit shows the seller that you’re serious about your ...

You'll keep an earnest money deposit toward your down payment in an escrow account until you close. You'll likely also have an escrow account when you own the home to pay your taxes and insurance.