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- Real Estate Glossary A
- Real Estate Glossary B
- Real Estate Glossary C
- Real Estate Glossary D
- Real Estate Glossary E
- Real Estate Glossary F
- Real Estate Glossary G
- Real Estate Glossary H
- Real Estate Glossary I
- Real Estate Glossary J
- Real Estate Glossary K
- Real Estate Glossary L
- Real Estate Glossary M
- Real Estate Glossary N
- Real Estate Glossary O
- Real Estate Glossary P
- Real Estate Glossary Q
- Real Estate Glossary R
- Real Estate Glossary S
- Real Estate Glossary T
- Real Estate Glossary U
- Real Estate Glossary V
- Real Estate Glossary W
- Real Estate Glossary Z
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Real Estate Glossary I
Impact feesFees collected from developers of new homes to pay for schools, parks and other facilities. Implied warranty of habitabilityCourt cases which determined that all new homes are assumed to be fit for human habitation and meet all building codes. ImpoundsA portion of the monthly mortgage payment that is placed in an account and used to pay for hazard insurance, property taxes and private mortgage insurance. Income propertyProperty that is not occupied by the owner but is used to generate income. Incurable defectA defect in a property that cannot be fixed, such as an adjacent hazardous waste site, or that would cost too much to repair relative to the value of the property. IndexFinancial tables used by lenders to calculate interest rates on adjustable mortgages and on Treasury bills. Individual Retirement AccountTax-deferred savings accounts that allow people to accrue retirement funds. In-file credit reportComputer-generated reports drawn from credit repositories that are generally regarded as objective histories. Infill developmentAny significant new construction in an established area. Infill housingHome construction in established areas. InflationThis event occurs when there is more money available than there are goods and services to be purchased. Mortgage rates, which are determined by the marketplace and the actions of the Federal Reserve Board and Wall Street, are sensitive to InfrastructureThe roads, schools, parks, utilities, bridges and communications systems in a community. Initial interest rateThe original interest rate on an adjustable mortgage. Inspection reportAn examination of a home's exterior, foundation, framing, plumbing, electrical system, heating, air conditioning, fireplace, kitchen, bathroom, roofing and interior. Installment contractA purchase agreement in which the buyer does not receive title to the property until all installments are paid. InsulationMaterials including cellulose, glass fiber, rock wool, polystyrene, urethane foam and vermiculite that slow heat loss. Insurable titleTitle to property that a company agrees to insure against defects and disputes. InsuranceOwners and buyers can purchase various types of insurance: hazard, private mortgage and earthquake. The policies guarantee compensation for specific losses. Insurance binderA temporary insurance arrangement usually put in force until a permanent policy can be obtained. InterestThe fee borrowers pay to obtain a loan. It is calculated based on a percentage of the total loan. Interest accrual rateThe rate at which interest accrues on a mortgage. Interest rateThe sum, expressed as a percentage, charged for a loan. Interest payments on most home loans are tax-deductible. Interest rate buy-down plansFor cash-short buyers, some sellers are willing to advance funds from the sale of the home to buy down the interest rate and reduce the buyer's monthly obligation. Interest rate capsA limit on the amount that can be charged to the monthly payment of an adjustable-rate mortgage during an adjustment period. Interest rate ceilingThe highest interest a lender can charge for an adjustable-rate mortgage. Interest-only loanThe pays only the interest that accrues on the loan balance each month. Because each payment goes toward interest, the outstanding balance of the loan does not decline with each payment. Investment propertyReal estate that generates income, such as an apartment building or a rental house.
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