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Debt-To-Income Ratio -
Percentage based ratio stating monthly debts to monthly income.
Deed -
Legal, binding document stating ownership to property. Similar to a title
for a car.
Deed of Trust -
Legal document used as security in place of a mortgage.
Default -
Failure to meet the predetermined payment agreements between the lender
and the borrower.
Deposit -
Initial sum of money to secure a property or mortgage and to be credited
to the overall debt.
Discount Points -
Generally used with FHA and VA loans. One point is 1% of the loan.
Due On Sale -
States that the lender is to be paid in full upon sale of the property
securing the mortgage.
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