Based on the cost of the homes in the area, the down payment that needs to be paid is $100,000.
The down payment that will be paid is the cost of the house less the amount that is paid for mortgages.
Cost = $250,000
Mortgages = $150,000
The down payment is therefore:
= Cost - mortgages
= 250,000 - 150,000
= $100,000
In conclusion, the down payment is $100,000.
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