-I-
-
Impound
Account
-
an account held by a lender for payment of taxes, insurance
or other related expenses.
-
Index
-
a public measure of current interest rate levels used by
lenders to calculate the rate on an adjustable
rate mortgage.
-
Insured
Mortgage
-
a mortgage insured against loss to the mortgagee in the
event of default.
-
Interest
Rate
-
the percentage added to a loan that covers the lenders'
costs for supplying money. This amount is part of an APR.
-
Interest
Payment Notification (1098)
-
a federal tax form (1098) used to notify borrowers of the
interest that they paid on their mortgage over the course
of the year.
Mortgage
Glossary © Copyright 2004, 2008 |
