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Down Payment Percentage
Explanation:
The Down Payment Percentage is the ratio of a loan's down payment amount to its total value.
For example, if the value of an item you want to buy is $10,000 and you need to borrow $8,000, then that means that you are using a down payment of $2,000, or 20%.
The minimum down payment percentage reflects the lowest down payment percentage required to get the loan rates displayed. Generally the higher the down payment percentage, the better the rates.