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• Price of Home - the final sale price of real estate, also called purchase price.
• Down - the initial upfront portion of the total amount due and it is usually given in cash at the time of finalizing the transaction. In the United States, down payments for home purchases typically vary between 3.5% and 20% of the purchase price.
• Term - the number of monthly payments, also called the loan's term, e.g. 360 months(30 years).
• Interest Rate - interest rate by year, expressed as a percentage.