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

According to a November 2025 report from National Association of Realtors (NAR), the median down payment from July 2024–June 2025 was 19% overall, including 10% for first-time buyers and 23% for repeat buyers. —Ryan Brennan may 13, Charlotte Observer, 13 May 2026

During the event, Lee announced a new down payment assistance program for eligible residents graduating through the Housing Choice Voucher Program. —Jamal Goss, CBS News, 12 May 2026

Atlanta Housing President and CEO Terri Lee said Tuesday the agency would expand its down payment assistance program, raising the maximum award from $25,000 to $60,000 for certain, eligible homebuyers. —Amy Wenk, AJC.com, 12 May 2026

Niebla-Machado gave the agent a firearm and a Dodge Ram pickup truck as a down payment for the kidnapping, according to court records. —Kendrick Calfee may 8, Kansas City Star, 8 May 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