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Loans & Lending Practices MCQs

What is a down payment?

Always 20% of the price of the house

Payment on a house required by law

The monthly mortgage payment

Money put down towards the payment of the house by the buyer at the time of purchase which is deducted from the price

Answer

Correct Answer: Money put down towards the payment of the house by the buyer at the time of purchase which is deducted from the price

Explanation:

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