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

But a handful of state and city programs are designed to bridge that gap — offering down payment assistance that can total tens of thousands of dollars for buyers who qualify. —Lauren Jarvis-Gibson, Charlotte Observer, 10 June 2026

The buyer’s contribution may come from household savings or gift funds, but funds from other down payment assistance grants or credits do not count toward the required contribution. —Ryan Brennan, Sacbee.com, 10 June 2026

The program provides down payment help through grants or forgivable second liens, with assistance reaching roughly 5% of the loan amount depending on which option a buyer chooses. —Fort Worth Star-Telegram, 10 June 2026

Bilt Point redemptions include airlines, hotels, future rent and mortgage payments, Lyft rides, statement credits, student loan balances, a down payment on a home, and more. —Jason Stauffer, CNBC, 10 June 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