De Minimus Self-employed Borrower - Borrower who earns less than 5 percent of total stable monthly income from self-employed business income.

Death Benefit - The amount of money the beneficiary is paid under an insurance policy when the insured person dies, less any outstanding loans against the policy. Also called the principal sum or survivor benefit.

Debt - An amount of money owed by one person, company, organization or other entity to another.

Deductible - The amount of a claim you pay out-of-pocket before the insurance company assumes the expenses. The deductible is typically a fixed dollar amount (e.g. $250).

Deed - A formal written instrument by which title to real property is transferred from one owner to another. The deed should contain an accurate description of the property being conveyed, should be signed and witnessed according to the laws of the State where the property is located, and should be delivered to the purchaser at closing day. There are two parties to a deed: the grantor and the grantee. (See also deed of trust.

Deed in Lieu - Short for 'deed in lieu of foreclosure,' this conveys title to the lender when the borrower is in default and wants to avoid foreclosure. The lender may or may not cease foreclosure activities if a borrower asks to provide a deed-in-lieu. Regardless of whether the lender accepts the deed-in-lieu, the avoidance and non-repayment of debt will most likely show on a credit history. What a deed-in-lieu may prevent is having the documents preparatory to a foreclosure being recorded and become a matter of public record.

Deed of Trust - In many states, this document is used in place of a mortgage to secure the payment of a note.

Default - Failure to repay a loan or otherwise meet the terms of your credit agreement.

Deferred Interest - Occurs when your monthly payments are not large enough to pay all the interest due on the loan. This unpaid interest is added to the unpaid balance of the loan. The danger of deferring your interest is that the buyer ends up owing more than the original amount of the loan. Also called Negative Amortization.

Delinquency - Failure to make payments on time. This can lead to foreclosure.

Department of Veterans Affairs (VA) - An independent agency of the federal government which guarantees long-term, low- or no-down payment mortgages to eligible veterans.

Depreciation (VA) - Decline in value of a house due to wear and tear, adverse changes in the neighborhood, or any other reason.

Disclosures (VA) - Information that must be given to consumers about their financial dealings.

Discount Points (VA) - Additional points you can pay a lender to lower the interest rate on your loan at closing. Each point is equal to 1 percent of the loan amount (e.g. two points on a $100,000 mortgage would cost $2,000). Also referred to as Points.

Documentary Stamps (VA) - A State tax, in the forms of stamps, required on deeds and mortgages when real estate title passes from one owner to another. The amount of stamps required varies with each State.

Documentation (VA) - A list of documents you will be required to provide when submitting a loan application. The required documents range from w2's to a signed sales contract.

Documentation Class (VA) - Category determined by Loan Prospector to indicate the minimum level of documentation you must obtain to underwrite the loan. The three possible classes are: Accept Plus, Accept and Caution.

Down Payment (VA) - The difference between the loan amount and the purchase price, usually paid immediately upon purchase with cash or a trade-in

Down Payment (VA) - The difference between the loan amount and the purchase price, usually paid immediately upon purchase with cash or a trade-in

Down Payment and Fees (VA) - Money paid to make up the difference between the purchase price and mortgage amount plus the closing cost fees to close the loan.

Down Payment and Fees (VA) - Money paid to make up the difference between the purchase price and mortgage amount plus the closing cost fees to close the loan.

Due-On-Sale Clause (VA) - A provision in a mortgage or deed of trust that allows the lender to demand immediate payment of the balance of the mortgage if the mortgage holder sells the home.

Due-On-Sale Clause (VA) - A provision in a mortgage or deed of trust that allows the lender to demand immediate payment of the balance of the mortgage if the mortgage holder sells the home.

Duplex (VA) - A dwelling divided into two separate living units, either side-by-side with a common wall or one above the other.