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DebtMoney owed to repay someone.
Debt-to-income RatioThe ratio between a borrower's monthly payment obligations divided by his or her net effective income (FHA or VA loans) or gross monthly income (conventional loans).
DeedThe legal document that transfers the ownership of real property from one party to another.
Deed of TrustA document, used in many states in place of a mortgage, held by a trustee pending repayment of the loan. The advantage of a deed of trust is that the trustee does not have to go to court to proceed with foreclosure should the borrower default on the loan.
Department of Housing and Urban Development (HUD)HUD is the Federal agency responsible for national policy and programs that address America's housing needs, that improve and develop the Nation's communities, and enforce fair housing laws.

HUD's business is helping create a decent home and suitable living environment for all Americans, and it has given America's communities a strong national voice at the Cabinet level. HUD plays a major role in supporting homeownership by underwriting homeownership for lower- and moderate-income families through its mortgage insurance programs.
Discount PointsA percentage of the loan amount paid to the lender to buy down the interest rate. Each point is one percent of the loan amount; for example, two points on a $100,000 mortgage is $2,000.
Displaced employeesDisplaced employees are current or former career or career conditional competitive service employees at the grade level GS-15 or below, and facing reduction in force separation or involuntary separation for declining a directed reassignment or transfer of function outside the commuting area.
Down PaymentThe difference between the purchase price and mortgage amount. The down payment becomes the property equity. Typically it comes from cash savings, but it can also be a gift that is not to be repaid or a borrowed amount secured by assets.
Due-on-saleA clause in a mortgage or deed of trust allowing a lender to require immediate payment of the balance of the loan if the property is sold (subject to the terms of the security instrument).
DuplexA dwelling divided into two units.
Last Modified: 12/11/2020 3:47 PM