There are 7 names in this directory beginning with the letter D.
Legal document by which title to real property is transferred from one owner to another. The deed contains a description of the property, and is signed, witnessed, and delivered to the buyer at closing.
Deed of Trust
A legal document that conveys title to real property to a third party. The third party holds title until the owner of the property has repaid the debt in full.
Failure to meet legal obligations in a contract, including failure to make payments on a loan.
Discount Points (or Points)
Points are an up-front fee paid to the lender at the time that you get your loan. Each point equals one percent of your total loan amount. Points and interest rates are inherently connected: in general, the more points you pay, the lower the interest rate you get. However, the more points you pay, the more cash you need up front since points are paid in cash at closing.
The amount of your home’s purchase price you need to supply up front in cash to get your loan. For conventional loans, you should strive for a down payment that’s at least 20% of your home’s value, since lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home’s purchase price. (Note, however, that FHA and VA loans have different policies regarding insurance.)