HELOC EXPERT GLOSSARY

Glossary: D

Browse terms beginning with D and move through the full A–Z home-equity and mortgage glossary.

Terms Starting with D

Each letter has its own permanent glossary page for easier browsing and linking.

Interest calculated using a daily rate applied to the outstanding principal for each day.

Using new financing to pay multiple existing debts, potentially changing the rate, term, payment and collateral securing those debts.

Required principal and interest payments on debt, and sometimes other required loan-related payments depending on the calculation.

A ratio comparing qualifying property income or cash flow with required debt service under a lender’s methodology.

A commercial-style ratio comparing property net operating income with loan amount; some lenders use related metrics in investment-property analysis.

A comparison of qualifying monthly debt obligations with qualifying monthly income.

A legal document used to transfer ownership of real property.

A security instrument used in many states to secure repayment of a real-estate loan.

Failure to meet a contractual loan obligation.

A higher interest rate that may apply after specified defaults when permitted by the loan documents and law.

Repairs or upkeep that have been postponed and may affect property condition, appraisal or eligibility.

A payment that has not been made when due under the loan terms.

An upfront fee paid in exchange for a pricing or interest-rate adjustment, subject to the lender’s pricing structure.

Rental income supported by documentation acceptable to a lender, such as leases, appraisals, tax returns or other records.

An advance of funds from an available line of credit.

A restriction or suspension of additional HELOC advances under conditions permitted by the agreement and law.

The period during which a borrower may generally take advances from a HELOC, subject to the account terms.

A borrower's request to advance funds from an available line of credit.

A provision that may permit a lender to require repayment if ownership of the property is transferred, subject to law and contract.