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Down Payment Definition – investopedia.com
https://www.investopedia.com/terms/d/down_payment.asp
A down payment is a sum of money the buyer pays at the outset of a large transaction, such as for a home or car, often before financing the rest.
Down payment Definition & Meaning – Merriam-Webster
https://www.merriam-webster.com/dictionary/down%20payment
Definition of down payment : a part of the full price paid at the time of purchase or delivery with the balance to be paid later broadly : the first step in a process Examples of down payment in a Sentence
FAQ down payment definition
What does make a down payment mean?
a payment of part of the total cost of something that you make when you buy it. The rest of the cost is usually paid over a period of time: make/put a down payment on sth I've put a down payment on a new TV. He proposes to pay a down payment of e550 and the remainder the next morning.
What is the difference between down payment and deposit?
down payment - a partial payment made at the time of purchase; the balance to be paid later. deposit. payment - a sum of money paid or a claim discharged.
Is a down payment on a car refundable?
Down payments on car purchases work similarly. In some cases, the down payment is not refundable if the deal falls through because of the purchaser. A down payment may also be referred to as a deposit, especially in England, where 0% to 5% deposit mortgages for home buyers are not uncommon.
Does down payment matter when buying a house?
Down Payment. Fees of fixed dollar amounts don't affect the return because they aren't reduced when the loan amount is reduced. A second possibility is that the larger down payment reduces or eliminates mortgage insurance, which must be purchased when the down payment is less than 20% of property value.
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