..:: Borrower Resources » Mortgage Dictionary::.. Wednesday, January 07, 2009    
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 The Mortgage Dictionary is available to assist you with terms you may be unfamiliar with in the mortgage industry. We have provided the most commonly used terms. If you need assistance with a term or any other questions, please contact a loan officer or please send us an email and we'll be happy to assist.

Down Payment

A percentage of the purchase price that the buyer must pay in cash and may not borrow from the lender.
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