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Earnest Money vs. Down Payment: What’s the Difference?

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When buying a home, “earnest money” and “down payment” are two terms you’ll hear a lot early in the process. Because both involve paying money upfront, it’s easy to confuse them, especially if this is your first time buying a house. However, they serve very different purposes: Earnest money is a good-faith deposit you submit shortly after your offer is accepted. A down payment is the larger amount you pay at closing toward the home purchase itself. In this brief post, we’ll take a closer look at how they compare, when they’re paid, and how much you may need for each. We’ll also provide two calculators to help you plan ahead. Save thousands when buying a home HomeLight-recommended real estate agents are top-tier negotiators who understand the market data that helps you save as much as possible when buying your dream home. Find a top buyer's agen...
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Newly Built Home Prices Hit a 5-Year Low

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If you’ve always assumed a newly built home is just not in your budget, you should know the math just got a little friendlier. from Keeping Current Matters https://www.keepingcurrentmatters.com/2026/05/21/newly-built-home-prices-hit-a-5-year-low/
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Private Mortgage Insurance (PMI): What It Is, How It Works, and How to Get Rid of It

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Key Takeaways: PMI is required on conventional loans with less than 20% down. It adds to your monthly costs but can be removed once you reach 20% equity. You can avoid PMI with a larger down payment, VA loan, or piggyback loan. If you’re buying a home and planning to put down less than 20%, chances are you’ve come across the term PMI. But what is it, why do you need it, and how much will it actually cost you? Whether you’re purchasing a home in Denver, CO or looking at homes for sale in Tampa, FL , understanding PMI is key to budgeting smart.  In this Redfin article, we’ll break down everything you need to know about private mortgage insurance (PMI) – including how to avoid it or remove it when the time is right. What is private mortgage insurance (PMI)? PMI stands for private mortgage insurance . It’s a type of insurance that protects your lender, not you, if you stop making payments on your mortgage. Lenders require PMI on conventional loans whe...
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Buying a House As-Is? Pros and Cons to Consider

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If you’re shopping for a home, you may come across properties listed “as-is.” This means the seller isn’t making repairs or offering credits for defects and the buyer must be willing to accept the home exactly as it currently is. In this Redfin article, we’ll cover what you need to know about buying a house “as-is,” and whether it’s the right option for you. So, whether you’re buying a home in Raleigh, NC , or a townhouse in Baltimore, MD , read on to learn about the term “as-is” in a real estate transaction. What does “as-is” mean when buying a house? Stephen Keighery, Founder of HomeBuyerLouisiana.com , says that “as-is” does not mean buyers ignore the condition of the property. “It means the seller knows we are not going to ask them to make repairs, renegotiate over every issue, or hold them responsible for problems after the inspection.” He explains that his team still has a general contractor complete a detailed evaluation of the roof, foundation, HVAC, electrical, plumbing, te...
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7 Budget Smart Home Devices and Tips for a Smarter Space

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Whether you’re looking at Seattle rentals or you’re exploring Round Rock homes for sale , this Redfin article explores how to elevate your living space without depleting your finances by using budget smart home devices and tips.  Smart home technology offers convenience, security, and significant energy savings. Choosing the right products and implementing them thoughtfully is key to a cost-effective upgrade. By following these seven essential steps, anyone can seamlessly transition their house into a smarter, more efficient home. 1. Explore companion apps Smart home devices often rely on a dedicated companion app for setup and management. Roman Bord, co-founder of Stormotion suggests, “Before committing to a smart home device purchase, check the usability of companion apps.” Download and test smart home apps if possible, or read reviews focusing on ease of use, stability, and feature set. A device with robust physical hardware can be hindered by a poorly designed app.  Bord say...
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The 10 Most Expensive Cities in the U.S. in 2026

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Key takeaways Los Angeles , Anaheim , and San Diego are the most expensive cities in the U.S., with sky-high prices leaving fewer than 10% of homes affordable to locals. The most expensive places to live are all located on the coasts—led by California, which accounts for six of the top ten. House prices skyrocketed during the pandemic and have only recently started to level out, straining budgets and putting a lid on demand in many places. Bustling neighborhoods, iconic landmarks, and an abundance of amenities are hallmarks of America’s largest cities—but in some places, these benefits come at a cost. All of the country’s most expensive major housing markets are concentrated on the coasts, where limited space and tight supply have long pushed prices upward.  Prior to the pandemic, though, costs were more manageable. It wasn’t until after the pandemic housing boom that it became largely unaffordable to buy a home in many coastal cities, contributing to a prolonged slowdown tha...
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