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Mortgage Terms: Minimum Down Payment Definition

Mortgage Terms: Minimum Down Payment Definition

Minimum down payment

Definition

The minimum allowable ratio of down payment to sale price on any program.

If the minimum is 10%, for example, it means that you must make a down payment of at least $10,000 on a $100,000 house, or $20,000 on a $200,000 house.

For articles on down payment, see Down Payment.

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