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

B. a part of the purchase price paid in cash

Explanation:

Down payment is the sum amount of money that you should pay for a property before the installment began. It's often considered as collateral for the home owner in case you can't continue paying the installment.

For example,

Let's say that the price of the house is $200,000 dollar and the owner require a 20% down payment.

This means that you need to prepare 20% $ 200,000 = $40,000 in cash at the beginning and pay the remaining $160,000 in installments,

reducing the scale of the market for a new product.