Earnest money on a $500,000 home

$10,000

2% of the price

Typical range (1% to 3%)

$5,000 to $15,000

Down payment (20%)

$100,000

Closing costs (3%, estimate)

$15,000

Earnest money credited

−$10,000

Cash still due at closing

$105,000

If the sale closes, the deposit is credited to you. It covers 10% of a 20% down payment.