Minnesota Specifics
How much earnest money should I offer in a Minnesota home purchase?
Context
Buyers writing an offer need to decide how much earnest money to include to make it competitive.
The short answer
Earnest money is a good-faith deposit that shows sellers you are serious; in Minnesota it commonly runs around 1–2% of the purchase price, though hot markets can push it higher.
Things to keep in mind
It is held in trust and usually applied to your down payment or closing costs; purchase-agreement contingencies determine when it is refundable if a deal falls through.
Next step
Ask DMF and your agent to help set an earnest money amount that fits your local market.
Have a question about your own situation?
DMF serves Minnesota homebuyers and homeowners by shopping your purchase or refinance file across multiple wholesale lenders — not a single bank's product menu.
Davis Monroe Financial, LLC is a mortgage broker, not a lender. We do not make credit decisions or fund loans. Rate locks are issued by the lender; we submit and manage lock requests on your behalf. All loans are subject to credit approval. Rates and terms are subject to change without notice.