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

The figure assumes that the buyer is making a down payment of about 10% of the home’s sale price.

From MarketWatch

I used my own funds for the down payment and paid all the mortgage payments, as well as all the home’s expenses.

From MarketWatch

You’ll probably want your next house to be larger and finished, meaning your down payment will be quite a bit higher than the one you made on your current home.

From MarketWatch

While the bulk of the savings should still go toward retirement, a share can also go to other so-called sinking funds for intermediate-term goals, such as a car or a down payment for a home.

From MarketWatch

Strong orders in the second half of 2025 will boost cash flow, with limited down payments meaning the company stands to grow faster than previously anticipated in 2027-28, the analysts write.

From The Wall Street Journal

Related Words

• deposit