down payment

American  

Or down-payment

noun

1. an initial amount paid at the time of purchase, in installment buying, time sales, etc.

2. any initial or partial payment, gift, favor, or recompense, as to reduce one's indebtedness or express one's obligation or gratitude.

   This gift is just a down payment for all the favors I owe you.

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down payment British  

noun

1. the deposit paid on an item purchased on hire-purchase, mortgage, etc

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down payment Cultural  

1. A payment in part made at the time of purchase of a good, with the promise to make full payment later.

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Etymology

Origin of down payment

First recorded in 1925–30

Example Sentences

Dan’s parents, by contrast, had helped him with a down payment for a home.

From The Wall Street Journal • Jun. 4, 2026

But five years ago, he agreed to put $12,000 toward closing costs and part of the down payment for his son’s house.

From The Wall Street Journal • Jun. 4, 2026

“With conventional loans, lenders usually allow gift money for some or all of your down payment, closing costs and financial reserves you’ll use to pay the mortgage,” Experian says.

From MarketWatch • Jun. 2, 2026

You might be able to save enough for a down payment on a $750,000 home, but it won’t be because you don’t move for a few years.

From MarketWatch • May 29, 2026

“I’m pawning some rugs and jewelry for the down payment on the N’daa,” Nali said with a loud sigh.

From "Healer of the Water Monster" by Brian Young

Related Words

• deposit