I think the meant the earnest money, not the down payment. The earnest money is lot less- I did like $3000 on a $700k purchase. The down payment is between you

I think the meant the earnest money, not the down payment. The earnest money is lot less- I did like $3000 on a $700k purchase. The down payment is between you and your financing, the earnest money is what you put on the table for the offer to the seller. Even then, you can generally get the earnest money back if appraisal or inspection fails.