Real Estate Terms 101: Down Payments

Buying a home involves a lot of terminology that can feel like a foreign language, especially the first time around . Most Fridays we will be breaking down the common real estate terms that every aspiring homeowner should understand . The more you know, the better prepared you’ll be! 

 

Down Payment: The down payment is the amount of out of pocket money you pay toward a home before your lender provides you with a loan to cover the rest of the purchase amount. The amount varies depending on the type of mortgage you take out! 

Have real estate questions you need answered? Call the reLIFE Team at 780-447-4537 today!! 

 

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