an initial amount paid at the time of purchase, in installment buying, time sales, etc.
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.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024
How to use down payment in a sentence
They also have the option to re-up their contract if needed, to take a bit longer to save up for a larger down payment.Divvy Homes secures $110M Series C to help renters become homeowners | Mary Ann Azevedo | February 2, 2021 | TechCrunch
Just before the pandemic, the couple almost put a down payment on a brick-and-mortar location for their church but opted not to at the last minute.Annapolis couple use nonprofit to fight homelessness, hunger during pandemic | Brooks DuBose | February 1, 2021 | Washington Post
The home buyer tax credit he proposed as a candidate would help Americans cover their down payment costs and is likely firmer assurance of government guarantees to mortgages backed by Fannie Mae and Freddie Mac.Experts predict what the 2021 housing market will bring | Kathy Orton | January 11, 2021 | Washington Post
Supporters of the pilot program said using these DHHL funds for down payment assistance was a faster and more efficient way to help waitlisters than developing homestead lots, which take years to build and require costly infrastructure.Hawaii’s Big Fix to Its Housing Shortage for Native Hawaiians? A Casino. | by Rob Perez, Honolulu Star-Advertiser, and Agnel Philip, ProPublica | December 24, 2020 | ProPublica
That was supposed to be a down payment propelling the legislation he hoped to pass later, which would have sent a market signal, but it failed.Fighting climate change through subsidies and innovation | Amy Harder | November 23, 2020 | Axios
She also insists she was not “financially involved” with the down payment or mortgage payments on the property.
Lo and behold, when the borrowers went to closing, they needed a second loan in order to make the down payment.How Much Fraud Was There Among Mortgage Originators? | Megan McArdle | February 15, 2013 | THE DAILY BEAST
Thus, the most important risk factor at the time the loan is made is the size of the down payment.The Four Most Important Things You Need to Know About the New Mortgage Rules | Megan McArdle | January 14, 2013 | THE DAILY BEAST
And they got a $58,667 down payment for a lavish rental home in Santa Barbara.The Prosecution Rests: Trial Now in Edwards Defense Team's Hands | Diane Dimond | May 10, 2012 | THE DAILY BEAST
But he said it does make “a serious down payment” on deficit reduction.
We made a down payment and set a date for our first lesson, but due to what was to happen to us, we never made it back again.The Biography of a Rabbit | Roy Benson
I assume that Dunmore gave it to Rivers as a sort of down payment on Rivers's silence, and to get rid of it.Murder in the Gunroom | Henry Beam Piper
She would have $10,000 left to buy him—to make the down payment on, at least—Beck's Hardware Store.Earth Alert! | Kris Neville
Your equity in your Center co-op can serve as down payment, easy three-generation terms, issue insurance.The Real Hard Sell | William W Stuart
How much of a down payment did you make on the sewing machine?A Dictionary of Cebuano Visayan | John U. Wolff
British Dictionary definitions for down payment
the deposit paid on an item purchased on hire-purchase, mortgage, etc
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Cultural definitions for down payment
A payment in part made at the time of purchase of a good, with the promise to make full payment later.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.