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.

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DEBT
An obligation to repay some amount owed. This may or may not be monetary.​

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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.​

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DEED
A document indicating the ownership of a property.​

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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.​

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DEED OF TRUST
A document which transfers title in a property to a trustee, who's obligations and powers are stipulated. Often used in mortgage transactions.​

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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.​

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DEED OF RELEASE
A document which dismisses a lien or other claim on a property.​

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DEED OF SURRENDER
A document used to surrender any claim a person has to a property.​

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DEFAULT
The condition in which a borrower has failed to meet the obligations of a loan or mortgage.​

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DELINQUENCY
The state in which a borrow has failed to meet payment obligations on time.​

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DEPOSIT
Cash given along with an offer to purchase property, Also called EARNEST MONEY.​

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DEPRECIATION
The natural decline in property value due to market forces or depletion of resources.​

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DETACHED SINGLE-FAMILY HOME
A single building improvement intended to serve as a home for one family.​

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DISCOUNT POINTS
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.​

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DISTRESSED PROPERTY
A mortgaged property which has been foreclosed on.​

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DOWN PAYMENT
An amount paid in cash for a property, with the intent to mortgage the remaining amount due.​

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DOWNSPOUT
The pipe that water moves through to reach the ground from the rain gutter.​

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DUE-ON-SALE PROVISION
A clause in a mortgage giving the lender the right to demand payment of the full balance when the borrower sells the property.​

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DUPLEX
A single-building improvement which is divided and provides two units which serve as homes to two families.​

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DWELLING
A house or other building which serves as a home.