Definition of down payment in US English:

down payment


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

    ‘it had taken their savings to make the down payment on a house’
    • ‘If you're not ready this year, start by fixing your credit and saving small amounts toward your down payment.’
    • ‘We used that money to make down payments on two more similar properties.’
    • ‘That compares with the 20% down payments common just a few years ago.’
    • ‘We have mortgage insurance on less than 20% initial down payments and mortgage pool insurance on many of the others.’
    • ‘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.’
    • ‘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.’
    • ‘This money helps first-time home buyers - people with very little income or with limited income - to get down payments to get into houses.’
    • ‘If you agree to assume those liabilities however, you can reduce your out-of-pocket down payment by that much.’
    • ‘But details of how big the initial down payment will be, and how fast the total will rise, have yet to be decided.’
    • ‘The report also said continued auto-promotion campaigns featuring low interest rates, low down payments and long installment periods also contributed.’
    • ‘Take out a mortgage with a small down payment and a low adjustable rate.’
    • ‘The Jacobses found a federally funded program that helped them with their down payment.’
    • ‘He already had the initial down payment on this job, another $500,000, in one of his accounts.’
    • ‘The goal is two-fold: to increase her retirement savings and to increase savings for a down payment on a home.’
    • ‘My down payment was my first month's pay cheque.’
    • ‘In fact, a higher down payment on the larger property allows you to finance the exact amount of mortgage loan you can afford.’
    • ‘A turnkey package would be offered in return for a down payment and a share of the profits.’
    • ‘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.’
    • ‘The Alternative State Income Mortgage is for self-employed borrowers with high credit quality and large down payments.’
    part payment, advance payment, prepayment, instalment, security, retainer, pledge, stake
    View synonyms


down payment

/ˈˌdaʊn ˈˌpeɪmənt//ˈˌdoun ˈˌpāmənt/