answersLogoWhite

0

What is a downpayment?

Updated: 9/24/2023
User Avatar

Wiki User

7y ago

Best Answer

This about your question. The down payment is money you give to the home's seller. The rest of the payment to the seller comes from your mortgage. Down payments are expressed as percentages. A down payment of at least 20% lets you avoid mortgage insurance. But otherwise, you are live in Florida USA. I m mean you are Florida people so I suggest to you just cheek it know United Financial Counselors is a non profit organization that is established and committed to raising the level of financial literacy of our clients.

User Avatar

Wiki User

7y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is a downpayment?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

downpayment assistance?

downpayment assistance


When do you pay the downpayment on a house?

You bring a cashiers check for the downpayment and any fees shown on your settlement report to closing.


What are the release dates for Downpayment on Murder - 1987 TV?

Downpayment on Murder - 1987 TV was released on: USA: 6 December 1987


How can you get help with a downpayment when your credit score is 600 or lower?

What do you need the downpayment for? If it's for a mortgage on a house, then most states/counties have downpayment assistance for people. Search for it on Google, or I guess you can look it up in the yellow pages. If you want to search for it put "downpayment assistance" (with the quotations) in the search box and then put the name of your city, and press search. Then go back and try it with your county name. They have a lot of programs out there.


What are the ratings and certificates for Downpayment on Murder - 1987 TV?

Downpayment on Murder - 1987 TV is rated/received certificates of: Iceland:12 UK:15 West Germany:16


Is car down payment is refundable?

No. A downpayment is a nonrefundable form of collateral which is applied to the sale of the vehicle. For example: If a car cost $10,000 and you give a downpayment of 15% ($1,500) you've applied your downpayment to the purchase of the vehicle. If after a few months you no longer wish to own the vehicle, you will still own the principle amount left.


Where can you use your trade in as a downpayment?

Patriot Auto Sales in Alamogordo, New Mexico ;-)


When do you need mortgage insurance?

When ever you are making less than a 20% downpayment.


What is the abbreviation for down payment?

Downpayment is TELEGRPHIC TRANSFER or T.T base


Can you use your IRA retirement funds for a downpayment on a house?

yes you can. as long as you have the funds.


Do you get your partial downpayment back if you have to return the car due to not being able to come up with the rest of the downpayment?

That would depend upon the lending terms in the purchase contract, and in some US states the consumer law relating to the matter


At the end of a car lease do you get your downpayment back?

No, you do not. It's a down payment, not a security deposit.