downpayment

From WikiWord, the free dictionary

English

Definitions

noun

A payment representing a fraction of the price of something being purchased, made to secure the right to continue making payments towards that purchase.
(by extension) Any initial commitment signifying an intention to carry out a larger future commitment, even though no legal rights or obligations are secured.

Related words

Synonyms

deposit downpayments mortgage loan payment cash mortage heloc buydown repayment savings loans financing payments moolah mortgages

Associated

assistance initiative purchase plus paid price housing interest

Rhymes

raiment repayment embayment claimant prepayment down payment nonpayment stop payment transfer payment copayment

References