WebMay 14, 2024 · A down payment is a cash payment made at the beginning of a purchase transaction. It is usually required by the seller of goods or services that are expensive and/or customized for the needs of the buyer. If the sale falls through, then the seller can keep the deposit and recognize it as revenue. The amount of a down payment usually ... WebAug 2, 2024 · A home down payment is the part of a home’s purchase price that you pay upfront and does not come from a mortgage lender …
Down Payment - Overview, Key Terms, Pros and Cons
WebBritannica Dictionary definition of DOWN. 1 . a : from a higher to a lower place or position. The land slopes down to the sea. ... as a down payment. We put 10 percent down [=we made a 10 percent down payment] on the house. Buy a car now with no money down. [=without making a down payment] WebBritannica Dictionary definition of DOWN PAYMENT. [count] : a first payment that you make when you buy something with an agreement to pay the rest later. She made a 10 … black ceiling white walls bedroom
down payment - English-French Dictionary WordReference.com
WebMar 14, 2024 · Down payment assistance comes in the form of grants, loans and other programs. It’s typically reserved only for borrowers who qualify as first-time home buyers. Down payment assistance programs can be run by a variety of organizations, including the U.S. Department of Housing and Urban Development (HUD), your local or state housing … WebDown Payment. A down payment is the initial payment made toward a real estate purchase, and is the difference between the home’s purchase price and the amount of … Webdown payment in American English. noun. 1. an initial amount paid at the time of purchase, in installment buying, time sales, etc. 2. any initial or partial payment, gift, favor, or recompense, as to reduce one's indebtedness or express one's obligation or gratitude. This gift is just a down payment for all the favors I owe you. gallons per day septic