down payment

or down-payment

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.

down payment

noun

1. the deposit paid on an item purchased on hire-purchase, mortgage, etc

down payment

1. A payment in part made at the time of purchase of a good , with the promise to make full payment later.

Word History and Origins

Origin of down payment¹

First recorded in 1925–30

Example Sentences

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.

From 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.

From 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.

From 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.

From 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.

From Axios

She also insists she was not “financially involved” with the down payment or mortgage payments on the property.

From The Daily Beast

Lo and behold, when the borrowers went to closing, they needed a second loan in order to make the down payment.

From The Daily Beast

Thus, the most important risk factor at the time the loan is made is the size of the down payment.

From The Daily Beast

And they got a $58,667 down payment for a lavish rental home in Santa Barbara.

From The Daily Beast

But he said it does make “a serious down payment” on deficit reduction.

From The Daily Beast

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.

From Project Gutenberg

I assume that Dunmore gave it to Rivers as a sort of down payment on Rivers's silence, and to get rid of it.

From Project Gutenberg

She would have $10,000 left to buy him—to make the down payment on, at least—Beck's Hardware Store.

From Project Gutenberg

Your equity in your Center co-op can serve as down payment, easy three-generation terms, issue insurance.

From Project Gutenberg

How much of a down payment did you make on the sewing machine?

From Project Gutenberg

Related Words

• deposit