down payments
Upfront partial payments
A down payment is a partial payment made upfront when purchasing something expensive, typically a house or car, with the remainder to be paid over time through financing.
The size of a down payment—often expressed as a percentage of the total price—affects loan terms, interest rates, and monthly payments.
They saved for years to make a twenty percent down payment on their first home.
Larger down payments generally mean smaller loans and better financing terms.
- earnest moneyPayment showing serious intent
- advancesForward movements or progress
- installmentsPeriodic partial payments
- depositPlace for safekeeping
- skin in the gamePersonal risk in outcome
mortgage · escrow · purchases · borrower · closing costs · financing · equity · homeownership · fixed-rate loans · debt-to-income ratio · housing affordability · first-time buyer · dream home · collateral · loan · lender · savings · saving up
- expensesexpenses, expense, expenditure, cost, costs
- bankingbank, banks, ATM, ATMs, account
- car salescar dealership, car dealerships, dealerships, dealer, auto dealership
- Farm Loansland loans, microloans, emergency loans
- housing crisishousing bubble, housing crash, subprime mortgages, foreclosures, subprime loans
- lending rulesusury laws, fair lending, predatory lending, truth in lending, loan terms
down paymentsballoon payments
Large final loan installments
remaining balance · payoffs · outstanding balance · installment payments · monthly payments