Real Estate terms starting with I

39 terms

  1. Implied Guarantee The assumption, prevalent in the financial markets, that the federal government will cover GSE debt obligations.
  2. Impound account Same or similar to "escrow account." See also "escrow account."
  3. Improvement Any building, structure, place, work of art, or other object constituting a physical betterment of real property, or any part of such betterment.
  4. income approach to value A method used by real estate appraisers to predict a property's anticipated future income.
  5. Income Property Real estate developed or purchased to produce income, such as a rental unit.
  6. Income tax credit See "tax credit."
  7. income-to-debt ratio > See: debt-to-income ratio.
  8. Indemnification To secure against any loss or damage, compensate or give security for reimbursement for loss or damage incurred.
  9. Index Statistical measure of the state of the stock market or economy based on the performance of stocks or other components.
  10. Individual Retirement Account (IRA) A retirement savings program for individuals to which yearly tax-deductible contributions up to a specified limit can be made.
  11. Inflation A condition of increasing prices. Inflation is generally measured by the Consumer Price Index.
  12. Inflation Coverage Endorsement to a homeowner's policy that automatically adjusts the amount of insurance to compensate for inflationary rises in the home's value.
  13. INFOTERRA INFOTERRA is an international environmental referral and research network made up of about 175 countries coordinated by the United Nations Environment…
  14. Initial Interest Rate The original interest rate for an adjustable-rate mortgage (ARM). Sometimes known as the "start rate."
  15. Inquiry 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.
  16. Inspector General Act Enacted in 1978, this Act authorized establishment of Offices of Inspectors General, “independent and objective units” within federal agencies that…
  17. Inspector General Reform Act Enacted in 2008, this Act amended the Inspector General Act to enhance the independence of inspectors general and to create a Council of the Inspectors…
  18. Installment The regular periodic payment that a borrower agrees to make to a lender.
  19. Installment contract Same or similar to "contract to purchase." See also "contract to purchase" under "mortgage."
  20. Installment Debt A loan that is repaid in accordance with a schedule of payments for a specified term (such as an automobile loan).
  21. Insurance 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.
  22. Insured mortgage 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.
  23. Integrated Exposure Uptake Biokinetic Model (IEUBK) Integrated Exposure Uptake Biokinetic Model for Lead in Children (IEUBK) and the Technical Review Workgroup for Lead (TRW) is an interoffice workgroup…
  24. Interest The term interest is used to describe the cost of using money, a right, share, or title in property.
  25. Interest Accrual Rate The percentage rate at which interest accumulates or increases on a mortgage loan.
  26. interest cap See: cap
  27. Interest rate The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time.
  28. Interest Rate Cap For an adjustable-rate mortgage, a limitation on the amount the interest rate can change per adjustment or over the lifetime of the loan, as stated in the…
  29. Interest Rate Ceiling For an adjustable-rate mortgage (ARM), the maximum interest rate, as specified in the mortgage note.
  30. Interest Rate Floor For an adjustable-rate mortgage (ARM), the minimum interest rate, as specified in the mortgage note.
  31. Interest Rate Risk Interest-rate risk describes the impact that a change in current interest rates is likely to have on the value of your investment portfolio.
  32. Interest Rate Swap A transaction between two parties where each agrees to exchange payments tied to different interest rates for a specified period of time, generally based…
  33. Interest-only loan A loan in which interest is payable at regular intervals until loan maturity (when the full loan balance is due.
  34. Interest-Only Mortgage With an interest-only mortgage loan, you pay only the interest portion of each scheduled payment for a fixed term, often five to seven years.
  35. Interim loan Temporary financing, usually for construction; not a mortgage.
  36. Intermediate Term Mortgage A mortgage loan with a contractual maturity from the time of purchase equal to or less than 20 years.
  37. Investment Property a property not considered to be a primary residence that is purchased in order to generate income, profit from appreciation, or to take advantage of…
  38. Investment trust Same or similar to "Real Estate Investment Trust." See also "Real Estate Investment Trust."
  39. Ionic One of the five classical orders, characterized by capitals with spiral elements called “volutes,” a fasciated entablature, continuous frieze, dentils…