earnest money
An initial deposit made by the buyer of a property when the purchase agreement is signed. This is a good faith amount, used toward the down payment at closing.
Get a Free Quote
The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
earnest
Noun: earnest (something of value given by one person to another to bind a contract)
Adjective: earnest, sincere, solemn (characterized by a firm and humorless belief in the validity of your opinions) "both sides were deeply in earnest, even passionate"; "an entirely sincere and cruel tyrant"; "a film with a solemn social message"
Adjective: dear, devout, earnest, heartfelt (earnest) "one's dearest wish"; "devout wishes for their success"; "heartfelt condolences"
Adjective: businesslike, earnest (not distracted by anything unrelated to the goal)
money
Noun: money (the most common medium of exchange; functions as legal tender) "we tried to collect the money he owed us"
Noun: money (wealth reckoned in terms of money) "all his money is in real estate"
Noun: money (the official currency issued by a government or national bank) "he changed his money into francs"
- earnest money -
Get a Free Quote
Return to Mortgage Glossary
A-C |
D-G |
H-N |
O-S |
T-Z
