down payment

American  

Or down-payment

noun

down payments plural

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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Other Word Forms

Noun Inflected Forms

• down payments
  plural

Etymology

Origin of down payment

First recorded in 1925–30

Example Sentences

See Examples For:

down payment

If your child wants to withdraw the money to spend on something other than so-called qualifying expenses, such as college or a home down payment, they will also need to pay an extra 10% penalty.

From MarketWatch ● Jul. 10, 2026

A tenth of home buyers indicated that saving for a down payment was the most difficult step in the process of buying a home, according to data from the National Association of Realtors.

From MarketWatch ● Jul. 7, 2026

Proposition 37 would create a down payment assistance program to help middle-class Californians buy a new home.

From Los Angeles Times ● Jul. 6, 2026

Borrowers who make a 20% down payment, often the minimum amount to avoid having to pay for private mortgage insurance, might see rates drop between 0.15 percentage point and 0.4 percentage point.

From Barron's ● Jun. 29, 2026

Standing on her feet all day in the sweltering laundry was an opportunity if the tumbled military uniforms bought new school clothes, if each sock made a down payment on her children’s college educations.

From "Hidden Figures" by Margot Lee Shetterly

Related Words

• deposit