What is down payment with current promotion?

[HeatherPage]

How are they determining down payment with the current promotion. If I were purchasing 200 points would it by $98 x 200 = 19,600 x(10%) = 1960 as the downpayment and then they take off the $8 per point from the remaining balance or do they take the 1,600 ($8 x 200) and subtract that from the 1960 downpayment leaving $360 as your downpayment? Or is it they immediately take off the $8/point making it $90 x 200 = $18,000 x (10%) = 1,800 as your downpayment? Thanks for any help!

 

[browniemtb]

The $1600 is yours to apply as you see fit. You can use it as part of your down payment or apply it towards principle and pay the 10%.
Brownie

 

[HeatherPage]

Great! Thanks for the info!

 

[Doctor P]

But, to precisely answer the question--the required downpayment is computed BEFORE the credit is given. So, the required downpayment is $1960, regardless of where the $ come from.