Buying a House: Down Payments

Front

What is a down payment?

Back

A down payment is an initial payment made when purchasing a house, usually expressed as a percentage of the total cost.

Front

How do you calculate the down payment amount?

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To calculate the down payment amount, multiply the total cost of the house by the down payment percentage.

Front

If a house costs $258,500 and the down payment is 10%, what is the down payment amount?

Back

$25,850

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What is the down payment for a house costing $110,400 with a 30% down payment requirement?

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$33,120

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How much is a 10% down payment on a $304,990 house?

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$30,499

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What is the down payment amount for a $164,900 house with a 15% down payment?

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$24,735

Front

What is the total cost of a house if the down payment is 20% and the down payment amount is $40,000?

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$200,000

Front

If Mr. Murat buys a house for $469,000 with a 17% down payment, how much is the down payment?

Back

$79,730

Front

What is the formula to find the total mortgage amount after a down payment?

Back

Total Mortgage = Total Cost - Down Payment.

Front

What does simple interest mean in the context of a mortgage?

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Simple interest is the interest calculated only on the principal amount of the mortgage, not on the interest accrued.