Backup offer

Over 2200 Glossary Terms

Backup offer

A bid for a property that the owner will consider if the current transaction falls through. If your bid for a house comes in second, be sure to make a backup offer. This will put you in line if the first offer falls through.

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Loan Type Today
30 yr fixed 4.83
15 yr fixed 4.39
5/1 ARM 3.69

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