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 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? Living QuartersUnderstanding Mortgage Interest Rates Family MattersFun Games to Teach Kids About Money