alexissauter2021 alexissauter2021
  • 07-01-2021
  • Mathematics
contestada

What is the down payment of the sale price

Respuesta :

AashishGiri
AashishGiri AashishGiri
  • 07-01-2021

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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