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down payment |
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A percentage of the total purchase price of an item that is proffered when the item is bought on credit. In an installment sales agreement, a buyer is required to pay part of the total price, usually in cash, and later pays the balance through a number of regularly scheduled payments. A down payment is sometimes known as earnest money, or a sum of money that a buyer pays upon entering a contract to indicate a Good Faith intention as well as an ability to pay the balance. down payment noun collateral, deposit, installment, payment, retainer, stake, surety See also: deposit, handsel, installment How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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5%, and mortgages that feature no down payments, no closing costs, and no application fees. The loan program, custom designed by ProPartners Financial (PPF), includes minimal down payments, flexible financing options and schedules, based on the seasonality of farming operations and use of Krause products. Kleinhenz notes that the qualifying ratio is more than 30 percent in lots of instances today, trade-up buyers are able to make substantial down payments and there are a variety of loan products available. |
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