How much earnest money on a $900,000 house?
Earnest money on a $900,000 house is usually $9,000 to $27,000, which is 1% to 3% of the price. A 2% deposit, the middle of that range, is $18,000. The money goes into escrow after your offer is accepted and is credited back to you at closing.
Typical earnest money on $900,000
$9,000 to $27,000
1% to 3% of the price, with $18,000 at 2%
Earnest money on $900,000 at every percentage
The earnest money calculator multiplies the price by the percent you offer. On $900,000, each common percentage works out to this. Each percentage links to its own page with more prices.
What buyers usually put down at $900,000
At $900,000, most buyers settle on a round number between $9,000 and $27,000. The middle of that range, $18,000, is a common default when the market is balanced. In a bidding situation buyers move toward the top of it or past it.
The right amount depends on how much competition there is for the home and on your contract's refund terms. The guide on how much earnest money to put down covers each factor, and offering more earnest money to win a home covers the risk of going higher.
Earnest money and cash to close on $900,000
At closing the deposit is credited to you, so it lowers the cash you still owe. This table uses a 2% deposit of $18,000 and closing costs estimated at 3% of the price. With 20% down you need $207,000 in total, and $189,000 after the credit. The loan amount column is the mortgage left after the down payment. With 3.5% down, the smallest FHA down payment, the deposit covers 57% of the $31,500 down payment.
| Down payment | Down payment | Loan amount | Due after $18,000 credit | Deposit covers |
|---|---|---|---|---|
| 3% | $27,000 | $873,000 | $36,000 | 67% |
| 3.5% | $31,500 | $868,500 | $40,500 | 57% |
| 5% | $45,000 | $855,000 | $54,000 | 40% |
| 10% | $90,000 | $810,000 | $99,000 | 20% |
| 20% | $180,000 | $720,000 | $189,000 | 10% |
Earnest money vs down payment explains how the credit shows up on your Closing Disclosure, and when earnest money is refundable covers what happens if the sale falls through.
Run your own numbers on $900,000
The calculator below is set to $900,000. Change the percent, the down payment or the closing cost estimate to match your offer.
At closing
Earnest money on a $900,000 home
$18,000
2% of the price
- Typical range (1% to 3%)
- $9,000 to $27,000
- Down payment (20%)
- $180,000
- Closing costs (3%, estimate)
- $27,000
- Earnest money credited
- −$18,000
- Cash still due at closing
- $189,000
If the sale closes, the deposit is credited to you. It covers 10% of a 20% down payment.
Earnest money on a $900,000 house: questions
How much earnest money should I put down on a $900,000 house?
Usually $9,000 to $27,000, which is 1% to 3% of the price. In a competitive market buyers often go to the top of that range or above it. In a slow market, or on a home that has sat for a while, 1% is common.
What is 2% earnest money on a $900,000 house?
$18,000. One percent is $9,000, 3% is $27,000, 5% is $45,000 and 10% is $90,000.
Does earnest money on a $900,000 house count toward the down payment?
Yes, if the sale closes. The deposit is credited to you at closing, so it lowers the cash you still owe for the down payment and closing costs. With 20% down ($180,000) and closing costs near 3%, a $18,000 deposit leaves $189,000 due at closing.