Down Payment, Glossary and Terms, Mortgage Brokers, Banks US

U.S Mortgage Brokers Mortgage Brokers, Banks US, Rate, Review, Remortgage

"Down Payment"

The portion of a home's purchase price that is paid in cash and is not part of the mortgage loan. This amount varies based on the loan type, but is determined by taking the difference of the sale price and the actual mortgage loan amount. Mortgage insurance is required when a down payment less than 20 percent is made.

Mortgage glossary and terms by letter

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