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Mortgage Glossary

Settlement

See Closing.

Settlement Statement

See Closing Statement.

Single Family Attached Home

A home in which you own the dwelling and lot, but share ownership of common walls with neighboring homes.

Single Family Detached Home

A freestanding home in which you own the entire structure and lot, and you are not charged homeowner's association dues. If you pay such dues, your property is considered a detached home in a planned unit development.

Subject Property

The property to be appraised by an appraiser, and the property that is the subject of the mortgage loan. In other words, the home you want to buy.

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