The difference between purchase price and the portion of the purchase price financed by a lender. Most lenders require that the down payment come from the buyer’s own funds, but may also allow gifts from relatives.
Real Estate Glossary : Terms and Definitions
The difference between purchase price and the portion of the purchase price financed by a lender. Most lenders require that the down payment come from the buyer’s own funds, but may also allow gifts from relatives.
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