Julio's down payment was 22.08% of the purchase price.
Given that Julio just bought a $ 267,900 house, and he had a 20 year mortgage with a fixed rate of 5.875%, and Julio's monthly payments are $ 1,558, to determine what percent of the purchase price was Julio's down payment the following calculation must be performed:
(267,900 x 1.05875) - (1558 x 12 x 20) = X
582,682.50 - 373,920 = X
208,762.50 = X
267,900 = 100
208,762.50 = X
208,762.50 x 100 / 267,900
77.92 = X
100 - 77.92 = 22.08
Therefore, Julio's down payment was 22.08% of the purchase price.
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