Down Payment - Mortgage Glossary
The upfront cash you pay toward the purchase price of a home, with the rest covered by your mortgage. Common down payment amounts range from 3% to 20% of the pu
Down Payment
The upfront cash you pay toward the purchase price of a home, with the rest covered by your mortgage. Common down payment amounts range from 3% to 20% of the purchase price. Putting down less than 20% on a conventional loan means you will typically need to pay private mortgage insurance (PMI).