Question

What is down payment with regard to buying a house?


A. a part of the purchase price paid in installments
B. a part of the purchase price paid in cash
C. an interest on the purchase price

Answer 1

B. it is what you pay when you make the deal. It is normally non-refundable, and basically makes you invested in that house so you won't back out on the deal or anything. You pay the down payment, then usually begin regular house payments unless you have something else set up.

Answer 2

B.