Minimum Down Payment

Minimum Down Payment

The minimum allowable ratio of down pay- ment to sale price on any loan program.

If the minimum is 10%, for example, it means that you must make a down payment of at least $10,000 on a $100,000 house or $20,000 on a $200,000 house.

The minimum down payment ratio is equal to one minus the maximum LTV. If the maximum LTV is 95%, for example, the minimum down payment is 1 - .95 = .05, or 5%.

References in periodicals archive ?
Minimum down payment requirements on finance company loans have been lowered twice in recent years - first in June 2015 and again in December 2016 - and are now as low as 5% for some finance companies.
Every household whose home has been destroyed as a result of the fire will receive a guaranteed 5,500 minimum down payment from the fund.
With Boku credit program, customers can secure exciting travel packages such as Airline tickets, hotel reservations, family vacations and lots more with a minimum down payment of 30% of the total cost of travel.
Buyers can benefit from a payment plan of 25% during construction and 75% upon handover, with a minimum down payment of 5% of the purchase price, Aldar's statement said.
In its 2016 Global Real Estate Outlook report, Alkhabeer said that though low affordability among potential homebuyers is a concern, recent government initiatives to reduce minimum down payment requirement is a positive development.
China will cut the minimum down payment for first-time home buyers in many cities, as part of efforts to boost the property market and slowing economy, according to a recent report by Shaighai Daily.
There were major stumbling blocks during talks with Tottenham, who wanted to make a minimum down payment with the rest dependent on appearances and other conditions.
For wineries and vineyards, the SBA requires 15% down; for other facilities like a tasting room or kitchen or wine-related businesses, the minimum down payment can be as low as 10%.
The vehicle is available with a minimum down payment of INR21,000.
Most recently, the PBoC last month lowered minimum down payment levels on second homes nationwide and shortened the ownership period during which sellers are liable for a 20-percent capital gains tax on properties other than their main home.
75% of the loan balance and it requires a minimum down payment of 3.
21, 2014, the Central Bank issued a circular ordering all banks and financial institutions to require a minimum down payment of 25 percent for any car or housing loan and stipulated that the monthly installment should not exceed 45 percent of family income.

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