Earnest Money Deposit

Earnest money is the deposit a buyer makes when a seller accepts their offer, signaling serious intent to close. It's usually 1%–3% of the purchase price, held in a neutral escrow account, and credited back to the buyer at closing — either toward the down payment or closing costs.

If the buyer backs out for a reason not covered by a contract contingency (financing, appraisal, inspection), the earnest money can be forfeited to the seller. If a contingency fails, it's typically returned.

Why it matters for Milo customers

Milo can fund your earnest money deposit through a short-term crypto-backed loan if you don't want to liquidate. The loan rolls into your eventual mortgage at close, so you keep your crypto position throughout.

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