< All Topics Main FAQs Is my earnest money deposit refundable if I cancel or do not qualify for a loan? Is my earnest money deposit refundable if I cancel or do not qualify for a loan? PostedJune 21, 2021 UpdatedAugust 31, 2021 ByElizabeth N. Molina In most cases, the earnest money is refundable. It just depends on the circumstances. For example, if you tell the seller that you are backing out of the home buying process before certain deadlines, there should be no issue refunding the earnest money. The same applies if you did not break any contract rules. Our office highly recommends that our clients review the contingencies in their contract regarding their earnest money deposit. Previous Do I need a Real Estate Broker to sell my home? Next Should I get my home appraised prior to selling?