Question

What is down payment with regard to buying a house?

A. a part of the purchase price paid in installments
B. a part of the purchase price paid in cash
C. an interest on the purchase price

Answer 1

Down payment with regard to buying a house is B. a part of the purchase price paid in cash.
It is what you pay when you make the deal, and it is usually non-refundable. You pay this to make the seller sure that you won't give up on buying that house.