Know the roles of both deposit and down payment when buying a home (NC) They b…

Know the roles of both deposit and down payment when buying a home (NC) They both start with the letter 'd' and they both require a large sum of money to secure the purchase of a home. However a 'deposit' and 'down payment' are very different. A lot of my first-time home buying clients ask me what the difference between a deposit and down payment is says Ray Ferris president of the Ontario Real Estate Association (OREA). Simply put: a deposit is associated with your offer to purchase a ho…