Home > Personal > Personal Lending > Mortgage > Mortgage Resources > Glossary > Debit Debit November 9, 2021 In a closing statement or settlement, an item that is charged to a buyer or seller. Compare with credit.You Might Also Like: Living QuartersFirst-Time Homebuyer’s Playbook: 4 Steps to a Successful Offer Everyday MoneyBank Holidays: Understanding Their Impact on Deposits and Transactions Living QuartersMortgage Lending for Veterans at Bank Five Nine All Things CommunityReviewing Random Acts of Kindness 2023 Everyday MoneyWhat are ACH Payments and How Do They Work?