Sometimes, lenders allow or require a down payment before they extend you the loan. What would be the advantage to the lender? What would be the advantage to the borrower?

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Leslie Chong · Answer 1 · 2024-12-31T02:32:02+0000

Answer:

For the borrower, it is beneficial for them to pay the down payment because you minimize the amount borrowed, lowered monthly payments & less interest expense. For the lender, it allows for faster approval, flexibility on payments & tax advantages.

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Sometimes, lenders allow or require a down payment before they extend you the loan. What would be the advantage to the lender? What would be the advantage to the borrower?

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