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

Harrison’s refutation of Sanders proves useful here: He pointed to “child tax credits” and “25k for a down payment for a house” as evidence that the Harris campaign was making an immediate and direct economic appeal.

From Slate

The $25,000 down payment assistance was a nice addition for those in the scarce and sluggish market for a home.

From Slate

But 26-year-old Olympia Aguilar said Vice-President Kamala Harris's policy proposals - including $25,000 in down payment assistance for first-time homebuyers - would help people like her who are trying to enter the market.

From BBC

She wants to give down payment assistance to homebuyers and tax deductions to new businesses, but the impacts of these may be limited, experts said.

From Salon

Harris' housing proposal includes more robust subsidies for first-generation homeowners and $25,000 in down payment assistance.

From Salon

Related Words

• deposit