Which term is best defined as a deposit to the seller that shows the intention of completing the transaction? Select one of the options below as your answer:

Question

anonymous · Answer

A. down payment B. earnest money C. mortgage application fee

mertsj · Answer

A

anonymous · Answer

What are closing costs

anonymous · Answer

actually i think it is earnest money, but don't take my word for it, google it

mertsj · Answer

I think I was wrong.  I think that is earnest money

anonymous · Answer

closing costs are fees that mortgage brokers or realtors charge to make money.  when you buy a house everyone has their hand out, and you get fleeced. inspectors, realtors, everyone

anonymous · Answer

A. various fees paid monthly along with rent B. various fees paid every year as part of taxes

mertsj · Answer

Closing costs are miscellaneous fees charged by those involved with the home sale..processing the loan, title company, surveyor, local government for recording fees, etc.