Down Payment


Definition of "3/2 Down Payment"

Scott Ricamore
  Keller Williams Park Cities

Programs offered by some lenders under which a borrower who is able to secure a
grant or gift equal to 2% of the down payment will only have to provide a 3% down payment from their
own funds.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Hundred Percent Location

Same as term one-hundred-percent location: Precisely the optimum location for a retail business esta ...

Tontine

Early life insurance that provided benefits only to survivors who lived to the end of a certain peri ...

Intestate

Death without a will having been drawn. Under this circumstance, the court follows state law in deci ...

Land Banking

The practice of acquiring land for a future use. For example, a franchising company is projecting ra ...

Intermediation

A court order on an issue directly related to the immediate action. ...

Mandatory Securities Valuation Reserve (msvr)

Liability reserve required to be maintained by the national association of insurance commissioners ( ...

Related Real Estate FAQ

What Is An Appraised Value?

An opinion of a properties fair market value, based on an appraisers inspection and analysis of the ...

What Do I Need To Know About Business Insurance?

Commercial insurance is designed to help protect many of the risks your business can face, including ...

What Does Preapproved Mean?

When you are preapproved, you have a definite commitment from a lender ...

What Is A Point?

A point is equal to 1 percent of a loan amount. Lenders charge points in exchange for lowering the i ...

What If They No Longer Make My Specific Computer?

The insurance company will replace it with a model as close to it as possible in the current retail ...

Why Do People Refinance?

People finance to obtain a new loan in order to pay off the existing mortgage or to gain access to t ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

What is Escrow and how does it Work? What is the Best Time of Year to Buy a Home? Getting Ready to Sell? Don't make these DIY Mistakes! What is Earnest Money 5 signs of house foundation problems

FAQ

What is a cap? What does FSBO mean? What is Long Term Care Insurance? What is a mortgagee? What do I need to know about Watercraft Insurance?