A downpayment is a partial sum of money paid upfront when purchasing something expensive. It shows commitment and reduces the amount you need to borrow or pay in installments later. Full definition
FHA loans allows for downpayments of as low as 3.5 percent and backs mortgages for borrowers with credit scores as low as 500. (themortgagereports.com)
FHA loans allows for downpayments of as low as 3.5 percent and backs mortgages for borrowers with credit scores as low as 500. (themortgagereports.com)
«Leaders in Washington must stop scaring consumers by talking about eliminating the mortgage interest deduction, ending a federal backstop for housing and calling for a minimum 20 percent downpayment on home loans,» says Nielsen. (rismedia.com)