down payment
Upfront purchase portion
A down payment is an initial partial payment made when purchasing something on credit, with the remainder paid over time.
The buyer pays a percentage upfront—often 10 to 20 percent for homes or cars—reducing the amount financed: They saved for years to make a down payment on a house.
The size of a down payment typically affects loan terms and interest rates.
Conditional third-party deposit
- principalChief school administrator
- amortizationGradual debt reduction schedule
- interestAttention, stake, or fee
- closing costsFees finalizing property purchase
equity · lender · borrower · underwriting · loan-to-value · preapproval · appraisal · collateral
Payment showing serious intent
- good faithSincere, honest intent
- pledgeBinding promise given
- depositPlace for safekeeping
- binderDevice securing loose pages
retainer · security deposit · guarantee · assurance · stake · token · advance · reservation fee
Secured home loan
- escrowConditional third-party deposit
- closingFinal stage of something
- appraisalEstimation of worth
- preapprovalAuthorization before final commitment
first-time buyer · FHA loan · VA loan · conventional loan · homeownership · offer · contract · inspection
Impartial treatment or ownership value
- appreciationRecognition of worth
- assetItem of value owned
- capitalWealth used for investment
- savingsAccumulated money kept
wealth building · leverage · return · nest egg · property value · home equity · long-term · financial planning
escrow
Conditional third-party deposit
- principalChief school administrator
- amortizationGradual debt reduction schedule
- interestAttention, stake, or fee
closing costs · equity · lender · borrower · underwriting · loan-to-value · preapproval · appraisal · collateral · default
earnest money
Payment showing serious intent
- good faithSincere, honest intent
- pledgeBinding promise given
- depositPlace for safekeeping
binder · retainer · security deposit · guarantee · assurance · stake · token · advance · reservation fee · holding deposit
mortgage
Secured home loan
preapproval · first-time buyer · FHA loan · VA loan · conventional loan · homeownership · offer · contract · inspection · title search
equity
Impartial treatment or ownership value
- appreciationRecognition of worth
- assetItem of value owned
- capitalWealth used for investment
savings · wealth building · leverage · return · nest egg · property value · home equity · long-term · financial planning
- car salescar dealership, car dealerships, dealerships, dealer, auto dealership
- transactionspurchase, deposit, transfer, money transfer, cash transfer
- Downdownward, downhill, downstairs, downstream, downwind
- mortgagesfixed-rate mortgage, mortgage broker, adjustable-rate mortgage, mortgage insurance, mortgage deed
- Auto Financingzero percent APR, monthly payments, loan terms, interest rates, credit check
- auto loansauto loan, car loan, loan amount, loan term, interest rate
down paymentfull payment
Entire amount owed, delivered
final payment · balloon payment · lump sum payment · balance due · remaining balance
down, payment, pays, repayment, payable, payer, repaying, nonpayment, prepayment