Calculate earnest money for real estate investments and properties
Enter the purchase price and earnest money percentage (typically 1-3%). The calculator determines the deposit amount needed to show good faith.
On a $650,000 home with 2% earnest money, you deposit $13,000 to secure the contract, credited toward purchase at closing.
Usually 1-3% of purchase price. Competitive markets may require higher deposits (5-10%) to show serious commitment.
Depends on contract contingencies. If you cancel within contingency periods (inspection, financing), earnest money is typically refunded.
Held in escrow during transaction, then credited toward your down payment and closing costs at closing. It's not an extra cost.