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USDA - What happens to our earnest money?

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Hevj1119
Regular Contributor

USDA - What happens to our earnest money?

Quickie question - wrote an offer on a house Saturday...  seller accepted our offer and will pay 100% of our closing costs.  We're hoping to go the USDA route (it'll come down to underwriting...) which is 0% down.

 

If the seller pays our closing costs, our loan is 0% down, and we pay for all the inspections up front - what is going to happen to the earnest money we handed over to our realtor Saturday?

Message 1 of 3
2 REPLIES 2
tooleman694
Valued Contributor

Re: USDA - What happens to our earnest money?

It gets wired to my bank account =)

 

Just kidding, you will get a refund at closing.

Message 2 of 3
Hevj1119
Regular Contributor

Re: USDA - What happens to our earnest money?

Excellent, thanks! Smiley Happy

Message 3 of 3
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