Definition of down payment in English:

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down payment

Pronunciation:

noun

An initial payment made when something is bought on credit: it had taken their savings to make the down payment on a house
More example sentences
  • You may need money for down payment only or for down payments and few additional installments too.
  • 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.
  • This money helps first-time home buyers - people with very little income or with limited income - to get down payments to get into houses.

For editors and proofreaders

Line breaks: down pay|ment

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