Question

Gerald bought a home for $300,000. His largest up–front cost is 10 percent, or $30,000. What is this cost called?

Answer 1

That is called a 'down payment.' Hope this helps! 

Answer 2

This up front cost is called down payment.

Explanation:

Given information is :

Gerald bought a home for $300,000. His largest up–front cost is 10 percent, or $30,000. This up front cost is called down payment.

Down payment is defined as an initial payment or cash offered which is made by the person who buys a house or anything on credit.