Part of the purchase price of a property that is paid in cash and not financed with a mortgage. For example, if the house sells for $100,000 and the loan is for $80,000, the down payment is $20,000 or 20%.
Part of the purchase price of a property that is paid in cash and not financed with a mortgage. For example, if the house sells for $100,000 and the loan is for $80,000, the down payment is $20,000 or 20%.