REAL ESTATE TERMS

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There are currently 7 names in this directory beginning with the letter D.
DAYS ON MARKET
The period between listing and sale, or listing and a property being taken off the market.

DEBT-TO-INCOME RATIO
The percentage of an individual's income that is used to repay debt.

DEED
The legal document conveying title to a property.

DEFAULT
Failure to make the mortgage payment within a specified period of time. For first mortgages or first trust deeds, if a payment has still not been made within 30 days of the due date, the loan is considered to be in default.

DEPRECIATION
A decline in the value of property; the opposite of appreciation.

DISCOUNT POINTS
Discount points are also known as mortgage points. They’re fees homebuyers pay directly to the lender at the time of closing in exchange for reduced interest rates which can lower monthly mortgage payments.

DOWN PAYMENT
The part of the purchase price of a property that the buyer pays in cash at the time of closing. This portion is not financed.