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The phrase "for a down payment" is grammatically correct and commonly used in written English.
It is typically used to describe a payment made upfront towards the purchase of a larger item, such as a house or car. Example: "The couple put aside $10,000 for a down payment on their dream home." In this sentence, "for a down payment" indicates that the $10,000 was specifically set aside for the purpose of being used as a down payment on a home.
Exact(60)
He saved enough for a down payment.
Meanwhile, they were saving diligently for a down payment.
"I have more than enough for a down payment.
She had no money for a down payment, though.
After all, you've been saving up for a down payment.
They still needed enough for a down payment.
He used the money for a down payment.
They had amassed $10,000 for a down payment.
Just don't use up the money you need for a down payment or closing costs.
But he said he borrowed against the policy for a down payment on a home.
She knew she would be able to save for a down payment.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com