📝 Buying a home in Texas? One of the most common questions buyers ask is: What happens to earnest money at closing—and how much should you put down?

In this episode of Mark’s Mortgage Guide, we break down everything you need to know about earnest money deposits, including how much earnest money is typical in Texas, how it applies toward your closing costs, and what happens if a deal falls through.

You’ll learn:

• What earnest money is and why it matters in a real estate contract
• How much earnest money deposit is required in Texas (1%–3% rule)
• How earnest money is held in escrow by the title company
• What happens to earnest money at closing (credited toward your cash to close)
• When earnest money is refundable vs non-refundable
• The difference between earnest money and option fees
• How to protect your earnest money using contract contingencies

If you’re a first-time home buyer, move-up buyer, or even a real estate agent looking to better explain the contract process, this episode will give you clear, consistent, and convenient guidance.

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Mark Zachary

Broker/Owner

Certified Mortgage Advisor

NMLS# 201166

Next Step Home Loans, LLC

NextStepHomeLoans.com

Ofc: 832-504-9014

NMLS# 1746763