what is a down payment?

Down payment – Wikipedia – (December 2011) Down payment (or downpayment, also called a deposit in British English), is a payment used in the context of the purchase of expensive items such as a car and a house, whereby the payment is the initial upfront portion of the total amount due and it is usually given in cash at the time of finalizing the transaction.

Down payment | Define Down payment at Dictionary.com – Down payment definition, an initial amount paid at the time of purchase, in installment buying, time sales, etc. See more.

Down Payment Invoice Process – SAP Documentation – Once the actual payment for the down payment invoice is made, create the proper payment document, based on the down payment invoice. A down payment invoice can be paid partially. After you create the payment document, a journal entry is recorded in the corresponding control account.

DOWN PAYMENT | meaning in the Cambridge English Dictionary – down payment definition: 1. an amount of money that you pay at the time that you buy something but is only a part of the total cost of that thing. You usually pay the rest of the cost over a period of time: 2. an amount of money that is part of the total cost, paid at the time when you buy something 3.. Learn more.

Down Payment Assistance: How to Get Up To $13,000 for Free 6 Low or No Down Payment Mortgage Options for 2019 – No Down Payment Mortgage. A no down payment mortgage allows first-time home buyers and repeat home buyers to purchase property with no money required at closing except standard closing costs.

What is Down Payment? | LendingTree Glossary – Definition. A down payment is the difference between a home’s purchase price and the amount of the mortgage against the property. The down payment must be paid upfront before the home purchase can close. Down Payment Requirements. The down payment requirement depends on the type of mortgage the home buyer chooses.

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Down Payment | Definition of Down Payment by Merriam-Webster – Down payment definition is – 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. How to use down payment in a sentence.

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What is a Down Payment? (with pictures) – wisegeek.com – A down payment is a portion of available money given at the outset of a loan to demonstrate commitment to the purchase. It is often given in cash, though in some cases it may be attached to an alternate line of credit.

getting a mortgage with fair credit What Do You Need to Qualify for a Mortgage? – Government-backed mortgages include: To get an FHA, VA, or USDA loan. of income A debt-to-income ratio that falls within permissible guidelines A fair or good credit score A down payment Let’s take.