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

Borrowers with strong credit scores and larger down payments may be able to secure better rates, while those with thinner profiles may see offers above these figures. —Angelica Leicht, CBS News, 13 Apr. 2026

Another option is to look for lenders that offer products geared toward down payment assistance. —Kelsey Neubauer, CNBC, 13 Apr. 2026

As homeownership continues to shift further out of reach, people are discouraged from saving enough for a down payment, the authors warned. —Emma Burleigh, Fortune, 8 Apr. 2026

For example, on a $450,000 home with a 20% down payment, a buyer who locked in a 30-year mortgage in February would pay about $1,346 less per year than someone securing a loan this week. —Samantha Delouya, CNN Money, 2 Apr. 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