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allochka39001 [22]
3 years ago
14

What is the down payment of the sale price

Mathematics
1 answer:
amm18123 years ago
8 0

Answer:

The down payment is the lower of sale price and appraised value less the loan amount. It is not the same as the borrower's cash outlay if some of that outlay is used for settlement costs. Financing settlement costs does not affect the down payment.

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