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

Dan’s parents, by contrast, had helped him with a down payment for a home.

From The Wall Street Journal • Jun. 4, 2026

“With conventional loans, lenders usually allow gift money for some or all of your down payment, closing costs and financial reserves you’ll use to pay the mortgage,” Experian says.

From MarketWatch • Jun. 2, 2026

My wife and I borrowed money for a down payment from my father-in-law, for our first house, and he told me that it was a gift.

From The Wall Street Journal • May 29, 2026

At what point does moving so often and renting become more expensive than simply staying put and saving enough for a down payment on a home that costs around $750,000?

From MarketWatch • May 29, 2026

The down payment was $100, which they had to borrow from my mother’s father.

From "Drama High" by Michael Sokolove

Related Words

• deposit