Definition of down payment in English:

down payment

noun

  • An initial payment made when something is bought on credit.

    ‘it had taken their savings to make the down payment on a house’
    • ‘The Jacobses found a federally funded program that helped them with their down payment.’
    • ‘If you agree to assume those liabilities however, you can reduce your out-of-pocket down payment by that much.’
    • ‘We have mortgage insurance on less than 20% initial down payments and mortgage pool insurance on many of the others.’
    • ‘You may need money for down payment only or for down payments and few additional installments too.’
    • ‘Of those in the unwilling category, 31.3% thought the down payments were so high they might as well pay full price.’
    • ‘We used that money to make down payments on two more similar properties.’
    • ‘My down payment was my first month's pay cheque.’
    • ‘The report also said continued auto-promotion campaigns featuring low interest rates, low down payments and long installment periods also contributed.’
    • ‘The Alternative State Income Mortgage is for self-employed borrowers with high credit quality and large down payments.’
    • ‘But details of how big the initial down payment will be, and how fast the total will rise, have yet to be decided.’
    • ‘That compares with the 20% down payments common just a few years ago.’
    • ‘In fact, a higher down payment on the larger property allows you to finance the exact amount of mortgage loan you can afford.’
    • ‘If you're not ready this year, start by fixing your credit and saving small amounts toward your down payment.’
    • ‘This money helps first-time home buyers - people with very little income or with limited income - to get down payments to get into houses.’
    • ‘Take out a mortgage with a small down payment and a low adjustable rate.’
    • ‘The goal is two-fold: to increase her retirement savings and to increase savings for a down payment on a home.’
    • ‘On June 13, the People's Bank of China issued a circular, saying commercial banks should limit lending to real estate developers, beef-up credit management and increase down payments to be paid by buyers of second or luxury homes.’
    • ‘A turnkey package would be offered in return for a down payment and a share of the profits.’
    • ‘He already had the initial down payment on this job, another $500,000, in one of his accounts.’
    • ‘Companies are also building cash in ways that don't show up in profits, including such maneuvers as cutting inventories, demanding quicker payment from customers, and slowing down payments to suppliers.’
    part payment, advance payment, prepayment, instalment, security, retainer, pledge, stake
    View synonyms

Pronunciation

down payment