D - Dictionary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Debt-to-Income Ratio (DTI) -
The ratio of aggregate monthly debt to aggregate monthly income.

Deed -
A legal document which affects the transfer of ownership of real estate from the seller to the buyer.

Deed of Trust -
Synonymous to a mortgage. A deed of trust or mortgage is obtained, depending on the state in which the borrower will reside.

Default -
The failure to make payments on a loan.

Delinquency -
Late- or non-payments of principal, interest, taxes, or insurance.

Deposit -
A lump sum given in advance as security. A deposit is always paid of a larger amount to be paid in the future. In mortgage and real estate terms, this is called the "earnest money deposit."

Depreciation -
In real estate and mortgage terms, the decline in the property value.

Discount -
Difference between the face amount of a note or mortgage and the price at which the instrument is sold in the secondary market.

Discount Points -
A term used in government subsidized loans, such as FHA and VA loans. Refers to any "points" (one percent of the loan amount) paid in addition to the one percent loan origination fee.

Down Payment -
Money paid by a buyer from his own funds, as opposed to that portion of the purchase price which is financed.

 
 

 

    Fannie Mae
    Freddie Mac
   
Ginnie Mae
   
VA
   
FTC
   
FDIC
   
FRB
   
HUD
   
Complaints

 

Discussion Forum

Recent Posts -

Ads

Mortgage
Homeowners - get fast, easy & free online mortgage answers.
www.jc-capital.net


Lower Payments

Search MortgageSector for Low Rate Loans! Get Info & Apply online here.
www.mortgagesector.com


Save Online

Compare offers on interest on adjustable mortgages. Get Started now!
www.rateadvisors.net

 


By visiting Allie Mae you have taken your first step toward becoming an educated borrower. Allie Mae is an objective, independent source of information for the mortgage consumer. Whether you are buying a home, refinancing, taking a home equity loan, building a home or in need of a mortgage for any purpose, Allie Mae is here to help. Allie Mae has helped thousands of people with their mortgage needs. We have a complete selection of articles, charts, calculators, and checklists designed to help you through the mortgage and home buying process.

© 2004 Copyright AllieMae. All Rights Reserved.
Privacy Policy   Legal  Terms & Conditions   Webmaster   Site Map    Application
About   Contact Us   Forum   Dictionary   Calculators   Articles   Free Content