down payment

noun

: a part of the full price paid at the time of purchase or delivery with the balance to be paid later

broadly : the first step in a process

Examples of down payment in a Sentence

She made a 10 percent down payment on the car.

We put a down payment on the house.

Recent Examples on the Web

The research takes into account mortgage rates at the time, median household income, and assumes a buyer will be able to come up with a 20% down payment (around $186,000 in San Diego County if Zillow’s prediction holds). —Phillip Molnar, San Diego Union-Tribune, 26 Jan. 2026

The Republican Study Committee described the proposal as an affordability package aimed at lowering down payments, enacting mortgage reforms and creating more tax breaks. —Gavin J. Quinton, Los Angeles Times, 26 Jan. 2026

And many first-time homebuyers have unique needs when choosing a lender, including down payment assistance, exceptional customer service, and a robust loan selection. —Kelsey Neubauer, CNBC, 26 Jan. 2026

Also, keep in mind the $147,000 down payment needed to make this deal work. —Jonathan Lansner, Oc Register, 24 Jan. 2026

Word History

First Known Use

1854, in the meaning defined above

Rhymes for down payment

• copayment
• embayment
• nonpayment
• prepayment
• repayment
• claimant
• overpayment
• underpayment

Kids Definition

down payment

noun

: a part of the full price paid at the time of purchase or delivery with the remainder to be paid later