Question

A down payment is usually what percentage of the asking price of a home?
O 0-5 percent
5-20 percent
20-50 percent
050-75 percent

Answer 1

Answer:

5-20 percent

Explanation:

A down payment is an upfront payment made due to the purchase of a house. The down payment amount may vary, but it is usually in the named range.

Lenders usually take 20%, however, if someone buys a house or an apartment for the first time, he/she can go through with a smaller percentage for a down payment.

Usually, the more we increase the down payment percentage, interest rates become better.

Answer 2

A down payment is usually 20-50% percent of the asking price of the home, hence option C is correct.

What is a Down payment?

This can also be called an advance payment or upfront payment, it is an amount of the total cost of a product or service a client pays.

It should be noted that until the payment is made in full, the buyer has no right over the property.

Learn more about down payment here:

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