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Same or similar to "escrow account." See also "escrow account."
- Browse Related Terms: Co-Signed Account, Escrow Account, Escrow Analysis, Impound account, Lease Purchase (Lease Option), Limited partnership, money-market account, PITI, PITIO, Principal, Interest, Taxes and Insurance (PITI), Principal, interest, taxes, and insurance payment (PITI), Rollover, Servicer, Servicing, Trust Account, Vested
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Any building, structure, place, work of art, or other object constituting a physical betterment of real property, or any part of such betterment.
- Browse Related Terms: Cast Iron, Entrance recess, Façade, Fenestration, Gutter, Historic windows, Improvement, Individual retirement account (IRA), Master plan, Materials, Pounds per square inch (PSI), Quoin, Residential Awning, restoration, Retractable Awning, Semi-detached, Setback, Shutter Dogs
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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.
- Browse Related Terms: Appraised Value, Appreciation, Cloud On The Title, Comparables, Comparative Market Analysis (COMPS), Depreciation, Encroachment, Eviction, Fire insurance, Grantee, Grantor, income approach to value, Loan-to-value ratio (LTV), Real Estate, Real estate tax, Secured Loan, security, Single-Family Properties, Soft Second Loan, Termite Inspection
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Real estate developed or purchased to produce income, such as a rental unit.
- Browse Related Terms: Back End Ratio (debt ratio), Gross Income, Gross Monthly Income, housing expenses-to-income ratio, Income Property, income-to-debt ratio, Investment Property, Keogh Funds
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See "tax credit."
- Browse Related Terms: Before-Tax Income, Delayed exchange, Front End Ratio, Homestead Credit, Income tax credit, Low-income housing, Mortgage Interest Deduction, Property Tax Deduction, Property tax relief, Real Estate Property Tax Deduction, tax savings
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> See: debt-to-income ratio.
- Browse Related Terms: Back End Ratio (debt ratio), Gross Income, Gross Monthly Income, housing expenses-to-income ratio, Income Property, income-to-debt ratio, Investment Property, Keogh Funds
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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.
- Browse Related Terms: Average Price, Credit Loss Ratio, Deductible, flood insurance, Hazard Insurance, Home Warranty, Homeowner's insurance, Indemnification, insurance, Median Price, Mortgage servicing, Perils, Property insurance, Tax and insurance escrow, Taxes and Insurance
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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.
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).
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.
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.
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A tax-deferred plan that can help you build a retirement nest egg.
- Browse Related Terms: Cast Iron, Entrance recess, Façade, Fenestration, Gutter, Historic windows, Improvement, Individual retirement account (IRA), Master plan, Materials, Pounds per square inch (PSI), Quoin, Residential Awning, restoration, Retractable Awning, Semi-detached, Setback, Shutter Dogs
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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.
An increase in prices.
- Browse Related Terms: Agreement of sale, Contract for deed, Contract of sale, Contract to purchase, Finance company, Global Debt Facility, inflation, Installment contract, Land contract, Purchase agreement, Sweat Equity
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Endorsement to a homeowner's policy that automatically adjusts the amount of insurance to compensate for inflationary rises in the home's value. This type of coverage does not adjust for increases in the home's value due to improvements.
- Browse Related Terms: Adjustable mortgage loan, Adjustment Date, Adjustment Index, Adjustment Interval, consumer handbook on adjustable rate mortgages (C.H.A.R.M.), Conversion Clause, Conversion Option, Convertible ARM, convertible mortgage, Cost of Funds Index (COFI), Fixed-Period Adjustable-Rate Mortgage, index, Inflation Coverage, Initial Interest Rate, Interest Rate Cap, Interest Rate Ceiling, Interest Rate Floor, LIBOR-Index, Margin, Mitigation, Payment Change Date, Prime rate, Treasury Index, Truth in lending, Two Step Mortgage, Variable maturity mortgage, variable rate mortgage (VRM)
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INFOTERRA is an international environmental referral and research network made up of about 175 countries coordinated by the United Nations Environment Programme (UNEP) in Nairobi, Kenya. The U.S. National Focal Point INFOTERRA is located at the EPA Headquarters Library and managed by the Office of Information Resources Management.
- Browse Related Terms: Contract Laboratory Program (CLP), Environmental Justice (EJ), Hazardous Substance Research Centers, INFOTERRA, National Institute of Environmental Health Sciences (NIEHS), Office of Research and Development (ORD), Office of Solid Waste and Emergency Response (OSWER), Office of Superfund Remediation and Technology Innovation (OSRTI), Outreach and Special Projects Staff (OSPS), Superfund Amendments and Reauthorization Act (SARA), Technology Innovation Office (TIO)
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The original interest rate for an adjustable-rate mortgage (ARM). Sometimes known as the "start rate."
- Browse Related Terms: Adjustable mortgage loan, Adjustment Date, Adjustment Index, Adjustment Interval, consumer handbook on adjustable rate mortgages (C.H.A.R.M.), Conversion Clause, Conversion Option, Convertible ARM, convertible mortgage, Cost of Funds Index (COFI), Fixed-Period Adjustable-Rate Mortgage, index, Inflation Coverage, Initial Interest Rate, Interest Rate Cap, Interest Rate Ceiling, Interest Rate Floor, LIBOR-Index, Margin, Mitigation, Payment Change Date, Prime rate, Treasury Index, Truth in lending, Two Step Mortgage, Variable maturity mortgage, variable rate mortgage (VRM)
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A credit report request. Each time a credit application is completed or more credit is requested counts as an inquiry. A large number of inquiries on a credit report can sometimes make a credit score lower.
A request for a copy of your credit report. An inquiry occurs every time you fill out a credit application and/or request more credit. Too many inquiries on a credit report can hurt your credit score.
- Browse Related Terms: Automated Underwriting, Collection Account, credit counseling, Credit Life Insurance, Credit Report, Credit score, FICO Score, Inquiry, Pre-Approval, Pre-Qualification, Predictive Variables, Qualifying Guidelines, Risk Based Pricing, Risk Scoring, Underwriting
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The regular periodic payment that a borrower agrees to make to a lender.
- Browse Related Terms: Chapter 13 Bankruptcy, Default, Delinquency, Forbearance, Fully Amortized Mortgage, Holder, Installment, Late Charge, Late Payment Charges, Payment Due Date, Prepayment penalty clause, Repayment Plan, reverse annuity mortgage, Terms
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Same or similar to "contract to purchase." See also "contract to purchase" under "mortgage."
- Browse Related Terms: Agreement of sale, Contract for deed, Contract of sale, Contract to purchase, Finance company, Global Debt Facility, inflation, Installment contract, Land contract, Purchase agreement, Sweat Equity
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A loan that is repaid in accordance with a schedule of payments for a specified term (such as an automobile loan).
- Browse Related Terms: amortization, balloon mortgage, Balloon note, Balloon Payment, biweekly mortgage, Biweekly Payment Mortgage, curtailments, fifteen-year mortgage, Flexible payment mortgage (FPM), Installment Debt, Interest-only loan, Level payment mortgage, Mortgage Life and Disability Insurance, Negative amortization, Partial Payment, Prepayment, Prepayment penalty, Prepayment Penalty Mortgage (PPM), Principal and interest payment (P & I), Remaining Term, Reverse annuity, term
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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.
See "property insurance;" "private mortgage insurance;" "insured mortgage;" "title insurance."
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.
- Browse Related Terms: Average Price, Credit Loss Ratio, Deductible, flood insurance, Hazard Insurance, Home Warranty, Homeowner's insurance, Indemnification, insurance, Median Price, Mortgage servicing, Perils, Property insurance, Tax and insurance escrow, Taxes and Insurance
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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.
- Browse Related Terms: 203(b), Federal Housing Administration (FHA), FHA, Insured mortgage, Mortgage Insurance, Mortgage Insurance (MI), Mortgage insurance company, Mortgage Insurance Premium (MIP), PMI, Private mortgage insurance, Private Mortgage Insurance (PMI)
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Integrated Exposure Uptake Biokinetic Model for Lead in Children (IEUBK) and the Technical Review Workgroup for Lead (TRW) is an interoffice workgroup convened by EPA's Office of Emergency and Remedial Response (OERR). Its goal is to support and promote consistent application of the best science in the field of lead (Pb) risk assessment at contaminated sites nationwide. This goal encompasses work to further develop and continue to refine risk assessment tools for Pb, to promote the best use of available scientific data for site assessments, and to serve as an advisor to OERR management on Pb risk assessment concerns.
- Browse Related Terms: Agency for Toxic Substances and Disease Registry (ATSDR), Community Advisory Groups (CAG), Data Element Dictionary (DED), Ecotox Thresholds (ET), Frequently Asked Questions (FAQ), Frequently Asked Questions About Contaminants Found at Hazardous Waste Sites (ToxFAQs), Integrated Exposure Uptake Biokinetic Model (IEUBK), Operations and Maintenance (O&M), Superfund Enhanced State and Tribal Role Initiative (STROLE), Superfund Job Training Initiative (SUPERJTI), Technical Assistance to Brownfields Communities (TAB), Technical Review Workgroup for Lead (TRW)