down payment

American  

Or down-payment

noun

down payments plural

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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Other Word Forms

Noun Inflected Forms

• down payments
  plural

Etymology

Origin of down payment

First recorded in 1925–30

Example Sentences

See Examples For:

down payment

For many households, a guaranteed $65,000 could immediately eliminate debt, cover years of rent or fund a down payment on a home.

From MarketWatch ● Jul. 24, 2026

If your child wants to withdraw the money to spend on something other than so-called qualifying expenses, such as college or a home down payment, they will also need to pay an extra 10% penalty.

From MarketWatch ● Jul. 10, 2026

A down payment is traditionally about 20% of the purchase price of a home.

From Los Angeles Times ● Jul. 6, 2026

Borrowers who make a 20% down payment, often the minimum amount to avoid having to pay for private mortgage insurance, might see rates drop between 0.15 percentage point and 0.4 percentage point.

From Barron's ● Jun. 29, 2026

The house that the man then showed them that Malcolm X particularly liked, in a predominantly Jewish neighborhood also on Long Island, required a $3000 down payment.

From "The Autobiography of Malcolm X" by Alex Malcolm X;Hailey

Related Words

• deposit