A mortgage contract that typically lasts 30 years and requires the borrower to pay a 20 percent down payment is known as a:

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A traditional mortgage contract typically involves a long-term loan (such as 30 years) and often requires a significant down payment (like 20 percent) from the borrower to purchase a home. This is a standard practice in the mortgage industry to reduce the risk for lenders.

A Mortgage Contract That Typically Lasts 30 Years and Requires