08/10/2026
๐ก Deposit vs. Down Payment โ know the difference.
โ๏ธ Deposit: Shows your commitment to the real estate transaction and is an amount agreed upon by the parties.
โ๏ธ Down Payment: The portion of the purchase price tied to your financing and mortgage.
Understanding the difference can help you know exactly where your money is going throughout the buying process.
Buying or selling in NJ or NY? Khan Law is here to guide you through every step.
Khan Law LLP
๐100 Challenger Rd Ridgefield Park, New Jersey Floor 8
๐ +1 (201) 500-7522