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Down payment
The amount of money a buyer agrees to give the seller when a sales agreement is signed. Complete financing is later secured with a lender.
Related Terms
Payment cap
Late payment
Additional principal payment
Standard payment calculation
Low-down-payment loan
Graduated-payment mortgage (GPM)
Balloon payment
Negative amortization
Interest-only loan
Annuity
Fixed installment
VA loans
Draw
Grace period
Trade equity
Acceleration clause
Notice of default
Amortization tables
Late charge
Leverage
Cap
Escrow payment
Interest rate caps
Bankruptcy
Balloon loan
Federal Housing Administration (FHA)
Prepaid interest
Escrow analysis
Escrow account
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