Math Calculator & Tools

Mortgage Down Payment Calculator - Financial calculation

Down Payment Loan Calculation

What is Down Payment? Down Payment is an initial payment made when something is purchased on credit. In general the term down payment is used when we purchase or buy an expesive item like home, car, boat etc, when we buy such items we do pay an inital portion of amount in cash in upfront and that payment is called as down payment. This inital payment helps in reducing the amount of the loan or mortgage. This also helps the finance lending organisation to recover some of the balance amount in loan, if there is any issue in repayment.

Down Payment Loan/ Mortgage: Down payment is a term used in the context of the purchase of expensive items such as a home, car or boat, whereby the payment is the initial upfront portion of the total amount due and it is usually given in cash at the time of finalizing the transaction.