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

My partner’s parents offered to help with the down payment, but they reacted strongly to the property.

From MarketWatch • Apr. 3, 2026

This could go a significant way in helping her to rent an apartment and even save for a down payment.

From MarketWatch • Mar. 26, 2026

Paying interest on a second loan instead of making a cash down payment can increase the overall cost of homeownership significantly.

From The Wall Street Journal • Mar. 26, 2026

If I worked two jobs and we did not have to pay rent, we could save enough money for a down payment in no time.

From "A Step from Heaven" by An Na

Related Words

• deposit