Earnest Money Calculator
Earnest Money
Calculate the recommended earnest money deposit for a home purchase based on market conditions and price
$
Formula
Earnest Money = Purchase Price x Market Rate x Offer Strength Modifier
Frequently Asked Questions
How much earnest money should I put down?
Earnest money typically ranges from 1 to 5 percent of the purchase price, depending on local customs and market conditions. In competitive markets, higher deposits can strengthen your offer.
Is earnest money refundable?
Earnest money is typically refundable if the buyer backs out due to a contingency specified in the contract, such as a failed inspection or inability to secure financing.