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To find the downpayment for a house priced at $620,000 with a rate of 10%, we need to calculate:

\[
\text{Downpayment} = 620,000 \times 0.10
\]

This results in:

\[
\text{Downpayment} = 62,000
\]

The downpayment amount would be $62,000. 

Would you like to explore more details or have further questions? Here are some related questions to deepen your understanding:

1. What would the downpayment be if the rate was 15% instead of 10%?
2. How would the total mortgage amount change if a larger downpayment is made?
3. What are the benefits of making a larger downpayment on a home?
4. How can the downpayment percentage affect the overall loan interest rate?
5. What other fees or costs should be considered when purchasing a home besides the downpayment?

**Tip:** The larger the downpayment, the smaller the mortgage loan you'll need, potentially reducing the interest you pay over the life of the loan.

For a house that is priced at $620,000, how much is a downpayment of 10%?

Find out how to calculate a 10% downpayment for a house priced at $620,000. This problem covers essential concepts in percentage calculations and basic algebra, suitable for high school students in Grades 9-12.

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