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. (a) The borrower is required to make a down payment between 10 percent and 25 percent of the purchase price of the home when

. (a) The borrower is required to make a down payment between 10 percent and 25 percent of the purchase price of the home when seeking to qualify for a mortgage loan, which is often referred to as the borrowers or homeowners

equity. Discuss. (14 marks)

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