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  Down Payment Definition
Down Payment When financing a car or a real estate purchase, you’ll need to give a cash deposit called a down payment. The money that you put down will become the equity in the property that you are financing. Typically, down payments on houses can be as low as 0 to 3 percent, but to avoid private mortgage insurance, you’ll need to have a down payment equal to at least 20 percent of the purchase price.

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