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Definition of downpayment

downpayment

/ˈdaʊnˌpeɪ.mənt/
down · pay · ment
Plural:downpayments
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downpayment Lexical Profile

downpayment Game Scores & Validity

• noun

1

An initial, partial payment made at the time of purchasing an expensive item or property on credit, with the remaining balance to be paid later in installments.

Example

"The couple saved for five years in order to afford a twenty percent downpayment on their first house."

Synonyms
View all synonyms for downpayment

Word Nuance & Usage

While the closed compound "downpayment" is widely used in modern writing, the open form "down payment" remains the preferred spelling in most standard style guides and formal financial contexts.

• Nearby Words

downloader
downlow
downmarket
downpayment
downpipe
downplay
downpour

Cite this Entry

Wordmom. (2026). Definition of Downpayment. In Wordmom Dictionary. Retrieved Nov 5, 2026, from https://wordmom.com/dictionary/downpayment
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