Is earnest money the same as escrow?

No. Earnest money is the deposit. Escrow is the arrangement where a neutral third party holds money or documents until a deal's conditions are met. Your earnest money is usually placed in escrow, which is why people mix the two up. It is the money, and escrow is where it waits.

The word escrow also has a second meaning after you buy. Many mortgages include an escrow account the lender uses to pay property taxes and homeowners insurance from your monthly payment. That account has nothing to do with earnest money.

During the purchase, the escrow agent or title company holds the deposit and follows the contract's instructions on when to release it. See the glossary entry for escrow or the guide on who holds earnest money.