Down payment definition

Down payment means all partial payments, whether made in cash or otherwise, received by or for the benefit of the seller before or substantially contemporaneous with either the execution of the installment sale contract or the delivery of the motor vehicle sold under that contract, whichever occurs later.
Down payment means the amounts paid in money and in goods to the home improvement contractor and allowances given by the home improvement contractor to the buyer prior to or contemporaneous with the execution of a home improvement installment contract.
Down payment means (i) a cash contribution made by the Borrower, either prior to or at the time the Loan is Closed, from the Borrower's Own Fund's towards the purchase price of the Property, or (ii) a verifiable equity in the Property vested in the Borrower only, after completion of the improvements in accordance with the Original Appraisal.

Examples of Down payment in a sentence

  • Down payment assistance shall be allowed only for the purchase of a primary residence by means of a fully amortized mortgage loan from a regulated lender featuring a rate of interest that is fixed for at least 5 years and that has a term not to exceed 30 years.

  • Financing personal or living expenses and working capital to purchase such items as feed, seed, fertilizer, fuel, and feeder livestock.c. Down payment funds for contract sale.

  • Down payment for a contract sale, or in connection with a loan from a nonregulated lender.44.5(5) Program parameters.a. Purchase price impact.

  • Down payment amount is an estimate for Moderate Income homebuyers.

  • If the PJ is going to receive American Dream Down payment Initiative (ADDI) funds, please complete the following narratives: a.


More Definitions of Down payment

Down payment has the meaning set forth in Section 2.2.
Down payment means an amount, including the value of any property used as a trade-in, paid to a seller to reduce the cash price of a motor vehicle purchased under a consumer credit sale.
Down payment means all partial payments, whether made in
Down payment shall have the meaning given in Section 3.1 of the Supply Agreement.
Down payment means that portion of the purchase price of the property that is not financed by any other loan.
Down payment means the payment made by the purchaser to the vendor on account of the purchase price at or before the time of the execution of a land installment contract. [PL 1983, c. 368 (NEW).]
Down payment shall have the meaning set forth in Section 4.1 (Down Payment).