### Question
Can you define what downpayment means?


### Answer
**Downpayment** is defined as the following in *12 U.S.C. § 1701x*:

> the amount of purchase price of home required to be paid at or before the time of purchase

#### Citation:
  - *12 U.S.C. § 1701x*
  - Heading: **CHAPTER 13-NATIONAL HOUSING**

