Jon has just paid his first mortgage payment. Which payment is he not required to make?

A. PMI

B. Property tax

C. Down Payment

D. Mortgage

Down payment is the payment made before you pay the first mortgage payment so that would be the answer.

Jon is not required to make a down payment. Option C is correct.

Down payment also known as a deposit in British English, refers to a payment utilized when purshising expensive items such as a car and a house, whereby the payment is the initial upfront portion of the overall amount due and it is usually given in cash at the time of finalizing the transaction.

Then, a loan or the amount of money in cash is required to make the full payment.