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Real Estate - Same or similar to "escrow account." See also "escrow account."
U.S. Census Bureau - Cite This Source - This Definition - Browse Related Terms: Buydown, Co-Signed Account, Escrow, Escrow Account, Escrow analysis, Individual retirement account (IRA), inflation, Lease Purchase (Lease Option), Servicer, Servicing, Trust account, Vested
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Real Estate - A method used by real estate appraisers to predict a property's anticipated future income. Income property includes shopping centers, hotels, motels, restaurants, apartment buildings, office space, etc.
Ginnie Mae - Cite This Source - This Definition - Browse Related Terms: amenities, certificate of reasonable value (CRV), CRV, Flood Certification Fee, Loan-To-Value (LTV) Ratio, Loan-to-value ratio (LTV), LTV (loan-to-value), Nonresidential
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Real Estate - See "tax credit."
U.S. Census Bureau - Cite This Source - This Definition - Browse Related Terms: Before-Tax Income, Gross Income, Gross Monthly Income, Keogh Funds, Low-income housing, Mortgage Interest Deduction, net income, Net Monthly Income, Property Tax Deduction, Real Estate Property Tax Deduction, Return On Average Common Equity, tax savings
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Real Estate - To secure against any loss or damage, compensate or give security for reimbursement for loss or damage incurred. A homeowner should negotiate for inclusion of an indemnification provision in a contract with a general contractor or for a separate indemnity agreement protecting the homeowner from harm, loss or damage caused by actions or omissions of the general (and all sub) contractor.
US Department of Housing and Urban Development - Cite This Source - This Definition - Browse Related Terms: Agreement of sale, Contract for deed, Contract of sale, Contract to purchase, derivative, Installment contract, Land contract, Purchase agreement, Purchase Offer, Third mortgage, Transfer of Ownership
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Real Estate - A statistic that indicates some current economic or financial condition. The term, payment, interest rate, or principal amount of a long-term loan may be adjusted periodically according to a specific index. The index and the manner of adjustment are generally stated in the loan contract.
U.S. Census Bureau - Cite This Source - This Definition - The measure of interest rate changes that the lender uses to decide how much the interest rate of an ARM will change over time. No one can be sure when an index rate will go up or down. If a lender bases interest rate adjustments on the average value of an index over time, your interest rate would not be as volatile. You should ask your lender how the index for any ARM you are considering has changed in recent years, and where it is reported.
US Department of Housing and Urban Development - Cite This Source - This Definition - A published interest rate compiled from other indicators such as U.S. Treasury bills or the monthly average interest rate on loans closed by savings and loan organizations. Mortgage lenders use the index figure to establish rates on adjustable rate mortgages (ARMs).
Ginnie Mae - Cite This Source - This Definition - A number used to compute the interest rate for an adjustable-rate mortgage (ARM). The index is generally a published number or percentage, such as the average interest rate or yield on U.S. Treasury bills. A margin is added to the index to determine the interest rate that will be charged on the ARM. This interest rate is subject to any caps on the maximum or minimum interest rate that may be charged on the mortgage, stated in the note.
Federal Trade Commission - Cite This Source - This Definition - Browse Related Terms: Adjustment Index, Adjustment Interval, Cost of Funds Index (COFI), LIBOR-Index, margin, Treasury Index, Variable interest rate
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Real Estate - A tax-deferred plan that can help you build a retirement nest egg.
Federal Trade Commission - Cite This Source - This Definition - Browse Related Terms: Buydown, Co-Signed Account, Escrow, Escrow Account, Escrow analysis, Impound account, inflation, Lease Purchase (Lease Option), Servicer, Servicing, Trust account, Vested
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Real Estate - The number of dollars in circulation exceeds the amount of goods and services available for purchase; inflation results in a decrease in the dollar's value.
US Department of Housing and Urban Development - Cite This Source - This Definition - An increase in prices.
Federal Trade Commission - Cite This Source - This Definition - Browse Related Terms: Buydown, Co-Signed Account, Escrow, Escrow Account, Escrow analysis, Impound account, Individual retirement account (IRA), Lease Purchase (Lease Option), Servicer, Servicing, Trust account, Vested
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Real Estate - The original interest rate for an adjustable-rate mortgage (ARM). Sometimes known as the "start rate."
Federal Trade Commission - Cite This Source - This Definition - Browse Related Terms: Adjustable mortgage loan, Adjustable rate mortgage (ARM), Adjustment Date, Alternative mortgage instrument (AMI), ARM, consumer handbook on adjustable rate mortgages (C.H.A.R.M.), Conversion Clause, Conversion Option, Convertible ARM, convertible mortgage, Fixed-Period Adjustable-Rate Mortgage, Fixed-rate mortgage, Interest Rate Ceiling, Interest Rate Floor, Payment Change Date, Prime rate, Two Step Mortgage, Variable maturity mortgage, variable rate mortgage (VRM)
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Real Estate - Same or similar to "contract to purchase." See also "contract to purchase" under "mortgage."
U.S. Census Bureau - Cite This Source - This Definition - Browse Related Terms: Agreement of sale, Contract for deed, Contract of sale, Contract to purchase, derivative, Indemnification, Land contract, Purchase agreement, Purchase Offer, Third mortgage, Transfer of Ownership
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Real Estate - See "property insurance;" "private mortgage insurance;" "insured mortgage;" "title insurance."
U.S. Census Bureau - Cite This Source - This Definition - Protection against a specific loss, such as fire, wind etc., over a period of time that is secured by the payment of a regularly scheduled premium.
US Department of Housing and Urban Development - Cite This Source - This Definition - As a part of PITI, the amount of the monthly mortgage payment that does not include the principal, interest, and taxes. Also see: homeowners insurance.
Ginnie Mae - Cite This Source - This Definition - Browse Related Terms: Casualty Protection, Deductible, Disclosures, Fire insurance, Flood Insurance, Hazard Insurance, Home Warranty, Homeowner's insurance, Liability Insurance, Mortgage Life Insurance, Owner's Policy, Perils, Property insurance, Rollover, Title insurance
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Real Estate - A mortgage insured against loss to the mortgagee (lender) in the event of default. May be insured by FHA, VA, FmHA, or by a private insurance company.
U.S. Census Bureau - Cite This Source - This Definition - Browse Related Terms: 203(b), Credit Enhancement, mortgage insurance, Mortgage insurance company, Mortgage Insurance (MI), Mortgage Insurance Premium (MIP), PMI, Private Mortgage Insurance, Private Mortgage Insurance (PMI)
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Real Estate - Money charged for the use of money (principal).
U.S. Census Bureau - Cite This Source - This Definition - A fee charged for the use of borrowing money.
US Department of Housing and Urban Development - Cite This Source - This Definition - The amount of the entire mortgage loan which does not include the principal. Also, as a part of PITI, the amount of the monthly mortgage payment which does not include the principal, taxes, and insurance.
Ginnie Mae - Cite This Source - This Definition - The rate used to determine the cost of borrowing money, usually stated as a percentage and as an annual rate.
The Federal Reserve Board - Cite This Source - This Definition - The cost you pay to borrow money. It is the payment you make to a lender for the money it has loaned to you. Interest is usually expressed as a percentage of the amount borrowed.
Federal Trade Commission - Cite This Source - This Definition - Browse Related Terms: Charge-off, Cushion, Gift Letter, Loan, PITI, PITI Reserves, Principal, interest, taxes, and insurance payment (PITI), Principal, Interest, Taxes, and Insurance (PITI), Reinstatement Period, taxes
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