A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered?

The 10% down payment made by the borrower is considered equity because it represents the portion of the property's value that the borrower truly owns outright. When a borrower puts down a percentage of the property's purchase price, that money serves as their initial stake in the property, reflecting their investment and ownership interest. This equity grows as the property's value increases or as the borrower pays down the mortgage.

In contrast, the other options do not accurately define the nature of the down payment. Boot refers to any additional value exchanged in a trade or investment, tax shelter is a financial strategy to reduce tax liability, and leverage involves using borrowed funds to increase the potential return on investment. Therefore, the correct classification of the 10% down payment is indeed equity.