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

Harris introduced House Bill 1135, which would establish a housing down payment assistance fund for single-family residences statewide, according to the Indiana General Assembly website. —Maya Wilkins, Chicago Tribune, 6 Jan. 2026

Saving for a down payment, however, is still the biggest hurdle for first-time buyers. —Diana Olick, CNBC, 30 Dec. 2025

Wicks is also the lead author of a housing bond that aims to create $10 billion to support home building and rehabilitation, down payment assistance, development subsidies and other efforts. —Stephen Hobbs, Sacbee.com, 30 Dec. 2025

Well-qualified borrowers, meaning those with excellent credit, steady income and a healthy down payment, may find slightly better rates when shopping around. —Angelica Leicht, CBS News, 23 Dec. 2025

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