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down payment
(redirected from down payments)

   Also found in: Dictionary/thesaurus, Financial, Encyclopedia, Wikipedia 0.01 sec.

A percentage of the total purchase price of an item that is proffered when the item is bought on credit.

In an installment sales agreement, a buyer is required to pay part of the total price, usually in cash, and later pays the balance through a number of regularly scheduled payments.

A down payment is sometimes known as earnest money, or a sum of money that a buyer pays upon entering a contract to indicate a Good Faith intention as well as an ability to pay the balance.


down payment noun collateral, deposit, installment, payment, retainer, stake, surety
See also: deposit, handsel, installment


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Paying down payments are necessary when applying for a mortgage and buying your Miami Beach real estate property.
New regulations from Fannie Mae and Freddie Mac are bucking conventional wisdom surrounding down payments and mortgage rates.
The larger down payments that you can turn up with ahead of you submit an application for your home loan, the better your likelihood of it being approved.
 
 
 
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