Based on the information given the down payment is $52,500.
Using this formula
Down payment=(100%-Approved loan percentage)×Purchase price
Where:
Approved loan percentage=85%
Purchase price=$350,000
Let plug in the formula
Down payment=(100%-85%)×$350,000
Down payment=15%×$350,000
Down payment=$52,500
Inconclusion the down payment is $52,500.
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