Earnest money amount?

I am going to go through with buying this house and the real estate agent says i need to try and come up with $500 earnest money. this is my 1st home so i am not sure on stuff. do i have to pay this amount? if i borrow the money can i get it back when the closing is done and give it back to the people i borrow it... show more I am going to go through with buying this house and the real estate agent says i need to try and come up with $500 earnest money. this is my 1st home so i am not sure on stuff. do i have to pay this amount? if i borrow the money can i get it back when the closing is done and give it back to the people i borrow it from(parents):)?
i am not sure how this works.
also how much is the usual closing costs on a 60000.00 loan. it's a smaller house so cheaper loan-the sellers are assisting 3200.00 in closing costs do i need more?
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