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

“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

My wife and I borrowed money for a down payment from my father-in-law, for our first house, and he told me that it was a gift.

From The Wall Street Journal • May 29, 2026

At what point does moving so often and renting become more expensive than simply staying put and saving enough for a down payment on a home that costs around $750,000?

From MarketWatch • May 29, 2026

On the upside, Dad said, the house had cost only a thousand dollars, and the owner had waived the down payment.

From "The Glass Castle" by Jeannette Walls

Related Words

• deposit