Question

Select the correct answer.

What is down payment with regard to buying a house?
SOA.
a part of the purchase price paid in installments
O B. a part of the purchase price paid in cash
O C. an interest on the purchase price

Answer 1

A down payment is a cash payment made by the buyer when purchasing a house, which is a percentage of the total purchase price.

Step-by-step explanation:

A down payment, with regard to buying a house, refers to a part of the purchase price that is paid in cash. It is an upfront payment made by the buyer to the seller at the time of purchasing the property. The down payment amount is typically a percentage of the total purchase price, and it is subtracted from the final amount that needs to be financed through a mortgage loan.

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