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

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

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

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

“I don’t think that most folks, especially in expensive coastal markets, are going to be able to save their way to a down payment solely by staying put and saving on moving costs.”

From MarketWatch • May 29, 2026

Even so, Marian was able to save enough to help her mother make a down payment on a small house in South Philadelphia, across the street from her grandmother’s place.

From "The Voice That Challenged a Nation: Marian Anderson and the Struggle for Equal Rights" by Russell Freedman

Related Words

• deposit