What is a downpayment?

What is a downpayment? What is a downpayment & how is it applied? Your total downpayment consists of what you would put down at “contract” and what you would bring to the closing table.   So if you were going to put down a total  5% on a $500,000 home, you would have a total of $25,000 total downpayment that … Continued