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

Many immigrants bought homes by taking advantage of federal FHA loans, which allow for low down payments of around 3.5%, and other assistance for first-time buyers. —Sarah Moreno july 14, Miami Herald, 14 July 2025

These challenges make a down payment feel out of reach. —Marni Rose McFall, MSNBC Newsweek, 11 July 2025

The rate depends on your lowest middle FICO score and your down payment percentage (in industry parlance this is called loan-to-value). —Jeff Lazerson, Oc Register, 3 July 2025

Also known as gap loans and interim financing, bridge loans are most often used by homebuyers to help with down payments and closing costs. —Dan Avery,maya Benjamin, CNBC, 24 June 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