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down payment

   Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.01 sec.
down payment
the deposit paid on an item purchased on hire-purchase, mortgage, etc.


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You have a small number of choices here, deposit a down payment a huge one, get a bad credit mortgage and otherwise restore your credit.
There is a low down payment required with an FHA loan, but homebuyers can pay more than the minimum of three percent, if they desire.
 
 
 
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