The difference between the purchase price of a home and the amount of the mortgage is the

Question

Quizplus · Accepted Answer

The difference between the purchase price of a home and the amount of the mortgage is the down payment. This is the amount of money that the buyer pays upfront to secure the mortgage loan and to reduce the amount of the loan. The down payment is typically a percentage of the purchase price, and it varies depending on the type of mortgage loan and the lender's requirements.

The Difference Between the Purchase Price of a Home and the Amount