Respuesta :
Answer:
The answer is down payment.
Step-by-step explanation:
Gerald bought a home for $300,000. His largest up–front cost is 10 percent, or $30,000.
This cost is called down payment.
Down payment is an amount in cash that is given while purchasing a home. This lies between 5% to 20% of the purchase price.
This payment reduces the amount of money you will have to borrow from banks. Each loan requires some sort of down payment.
