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You are purchasing a home for $145,000.In order to get a 30 year fixed mortgage rate of 4.5%, the bank requires a 20% down payment. What is the down payment amount?

You are purchasing a home for $145,000.In order to get a 30 year fixed mortgage rate of 4.5%, the bank requires a 20% down payment. What is the down payment amount?
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4 votes
You are purchasing a home for $145,000.In order to get a 30 year fixed mortgage rate of 4.5%, the bank requires a 20% down payment.

What is the down payment amount?

asked
User Parzibyte
by
8.6k points

1 Answer

5 votes
20% of $145,000 is
0.2*$145,000 = $29,000

Answer: $29,000
answered
User Pechenie
by
8.5k points
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