The difference between the purchase price and mortgage amount. The down payment becomes the property equity. Typically, it should be cash savings, but it can also be a gift that is not to be repaid or a borrowed amount secured by assets.
The difference between the purchase price and mortgage amount. The down payment becomes the property equity. Typically, it should be cash savings, but it can also be a gift that is not to be repaid or a borrowed amount secured by assets.
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