Down Payment


Definition of "Down Payment"

Partial payment needed of the purchase price when a house is purchased. The down payment represents an element of the total cost. See also earnest money.



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Commercial Forgery Policy

Coverage for an insured who unknowingly accepts forged checks. ...

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Unimproved property. It has no utilities, sewers, streets, or structures and usually must be cleare ...

Self-directed Account

Type of individual retirement account (IRA) allowed by the employees retirement income security act ...

Net Worth

Individual: Total assets less total liabilities less estimated taxes. It is the individual's pers ...

Consumer Protection Act

Same as term Consumer Credit Protection Act: 1968 federal legislation that makes it mandatory for le ...

Inharmonious

Inappropriate and possibly harmful use of land. For example, a factory located on the shore of a riv ...

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A second mortgage is a type of mortgage on property that has alien already on the first mortgage. Th ...

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