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

Connecticut provides up to $25,000 per borrower, which may cover up to 20% of a down payment and 5% of closing costs. — Don Stacom, Hartford Courant, 8 Sep. 2026

While there’s no federal mandate for a 20% down payment, increasing your down payment can help secure a better rate with any mortgage product. — Dan Simms, USA Today, 5 Sep. 2026

Underpinning the luxury market are affluent home shoppers who can afford to shrug off rising mortgage rates and often pay all cash for a home or come up with a large down payment by raising funds through sales of stocks or other investments. — ABC News, 2 Sep. 2026

These points can be redeemed with partner travel organizations, gym classes or can go toward putting a down payment on a home. — Kelsey Neubauer, CNBC, 1 Sep. 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