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

He has long maintained that his company, which started in 2011 and offered mortgages for as little as a 1% down payment, has not preyed on its customers.

From Salon • Apr. 12, 2026

Note: Assumes a 20% down payment and a 33% debt-to-income ratio.

From The Wall Street Journal • Apr. 11, 2026

The median down payment for a home at the end of 2025 was $78,831, according to Bankrate.

From MarketWatch • Mar. 25, 2026

This might be a program where a renter stays for an agreed number of years in return for a lump sum at the end of the tenancy that can be put toward a down payment.

From The Wall Street Journal • Mar. 23, 2026

She had been startled, when she first saw the listing in the real estate section of the paper, to realize she could afford the down payment in cash.

From "Americanah" by Chimamanda Ngozi Adichie

Related Words

• deposit