There are currently 21 glossary terms in this directory beginning with the letter D.
DATE OF APPRAISAL
The specific point in time as of which an appraiser designates the value of a home. Often stipulated as the date of inspection.
DEBT EQUITY RATIO
The ratio of the amount a mortgagor still owes on a property to the amount of equity they have in the home. Equity is calculated at the fair-market value of the home, less any outstanding mortgage debt.
DEED OF RECONVEYANCE
A document which transfers ownership of a property from a Trustee back to a borrower who has fulfilled the obligations of a mortgage.
DEED OF TRUST
A document which transfers title in a property to a trustee, whose obligations and powers are stipulated. Often used in mortgage transactions.
DEED-IN-LIEU (OF FORECLOSURE)
A document given by a borrower to a lender, transferring title of the property. Often used to avoid credit-damaging foreclosure procedures.
DETACHED SINGLE-FAMILY HOME
A single building improvement intended to serve as a home for one family.
Points paid in addition to the loan origination fee to get a lower interest rate. One point is equal to one percent of the loan amount.
An amount paid in cash for a property, with the intent to mortgage the remaining amount due.
A clause in a mortgage giving the lender the right to demand payment of the full balance when the borrower sells the property.
A single-building improvement which is divided and provides two units which serve as homes to two families.