How to solve for a down payment

Question

Leslie Page

Mathematics

19 January, 14:16

How to solve for a down payment

+1

Answers (1)

Know the Answer?

Taniyah · Answer 1

The down payment is a number derived from the purchase price. If you buy the house for $600,000, your required minimum down payment is a percentage of that price. For example, if you qualify for a 3 percent down payment, the down payment you will owe at closing is $18,000. A down payment of 5 percent is $30,000.