Personal Finance Tip of the Day

Handy Personal Finance
ISBN: 9781578593224
$19.95

What is a down payment, how much should be invested in a down payment, and what are some guidelines for down payments?

  • It is based on the buyer's ability to pay.
  • It determines the amount of the mortgage.
  • It should be saved in addition to 4-6 months of living expenses.
  • It is typically 10-20% of the house's price.

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