Everything you need to buy with confidence.

Pre-Approval

A lender's written commitment to loan you up to a specific amount, based on a review of your income, credit, and assets. Different from pre-qualification, which is just an estimate.

Earnest Money

A deposit (typically 1–2% of the purchase price) you submit with your offer to show the seller you're serious. It goes toward your down payment at closing.

Contingency

A condition that must be met for the sale to proceed — common ones include financing, inspection, and appraisal contingencies. They protect you if something goes wrong.

Appraisal

An independent assessment of the home's market value, required by your lender. If the home appraises below the purchase price, you may need to renegotiate or cover the gap.

Closing Costs

Fees paid at closing beyond the down payment — typically 2–5% of the loan amount. Includes lender fees, title insurance, taxes, and prepaid items like homeowner's insurance.

Escrow

A neutral third party that holds funds and documents during the transaction. Your earnest money goes into escrow, and your lender may set up an escrow account for taxes and insurance.

Title Insurance

Protects you (and your lender) against claims on the property's ownership history — unpaid liens, errors in public records, or undisclosed heirs. A one-time fee paid at closing.

PMI

Private Mortgage Insurance — required if your down payment is less than 20%. It protects the lender, not you. It can be removed once you reach 20% equity in the home.