down payment

Related Terms
Good faith deposit made by a buyer to underline his or her commitment to complete the deal. In mortgage agreements, down payment is the difference between the purchase price of a property and the mortgage loan amount. Also called earnest money or front money.

Use 'down payment' in a Sentence

The more that you can put on your down payment the lower your monthly payments will be throughout your loan.
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Upon giving the bank a down payment on the house she had been dreaming of owning for years, the hardworking woman knew she would happily work long hours so she could pay the remaining payments to own the house completely.
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The more that you can put on your down payment the lower your monthly payments will be throughout your loan.
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