Making money with real estate terminology might not be glamorous and appealing but you need to know real estate terminology to be able to structure the deal.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Income Property:This is property that is used to generate an income.
Index: This number is used when the interest rate for an ARM is required to be calculated. This value is generally held as a percentage, to which a margin is merged to which then gives an interest rate which can be used with the ARM.
Individual Retirement Account (IRA): This is a retirement savings plan, tax is not applicable here.
Inflation: This is when prices increase.
Initial Interest Rate: This is the rate of an ARM which was held when the loan was created.
Inquiry: This is where a copy of a credit report is requested, this generally happens during a credit request.
Installment: This is an agreed value that is regularly paid to the lender by the borrower.
Installment Debt: This is a loan where payments are scheduled for repayment, this is under a term which is stated in the mortgage.
Interest: This is the fee that is paid when you wish to borrow money, this money is paid directly to the lender which the money came from.
Interest Accrual Rate: This is the build up of interest from a mortgage as a percentage value.
Interest Rate Cap: This is the limitation that exists on the changing of the interest rate for an ARM, this is stated in the note belonging to the mortgage.
Interest Rate Ceiling: This is the maximum interest rate of an ARM, this is stated in the note belonging to the mortgage.
Interest Rate Floor: This is the minimum interest rate of an ARM, this is stated in the note belonging to the mortgage.
Investment Property: This is a property that is used to gain income instead of serving as a place to live.
Real Estate Terminology I to Analyze Your Deal