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 typical monthly mortgage payment on an existing single-family home, assuming a 20% down payment, was $1,979 in the first quarter, according to data released Tuesday by the National Association of Realtors.

From Barron's • May 5, 2026

Tran would work to expand programs, such as the Low-Income Housing Tax Credit, to incentivize developers to build more affordable units, and to provide direct mortgage relief and down payment assistance to first-time homebuyers.

From Los Angeles Times • May 1, 2026

Gen Caine said the $1.5tn "represents a historic down payment for future security" that would allow the US to get ahead of fast-evolving technology.

From BBC • Apr. 29, 2026

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

Often, families make a down payment on a dowry at birth, so the money has years to accumulate interest before marriage.

From "The Mona Lisa Vanishes" by Nicholas Day

Related Words

• deposit