Down payment
Definition
The difference between the value of the property and the loan amount, expressed in dollars, or as a percentage of the price. For example, if the house sells for $100,000 and the loan is for $80,000, the down payment is $20,000 or 20%. To read articles about the down payment, see Down Payment.
Related Terms Other terms related to 'Down payment' starting with the letter 'D' Discount mortgage broker, Deadbeat, Debtaholic, Dual index mortgage, Documentation requirements Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 