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

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Impound, or Reserves	The portion of a borrower's monthly payments held by the lender to pay for taxes, hazard and mortgage insurance, lease payments, and other items that will come due
Income approach	The method of estimating the value of a property by calculating its generated income
Income property	Real estate developed for the purpose of generating income
Indemnify	To provide for compensation in the case of loss or damage to property
Indemnity	The statement of terms under which loss or damage to property will be compensated
Index	A published interest rate used by lenders to compare the interest rate for an adjustable-rate mortgage (ARM) with that earned by other investments (e.g., the yield on Treasury bills, interest rate on loans from savings and loans institution, etc.), as a result of which the ARM interest rate is adjusted
Ingress	The right to enter on or over a piece of property
Insurable Title	A property title which an insurance company is willing to insure against possible claim
Installment contract, or Contract for deed	A contract for the sale of real estate whereby the buyer is in possession of the property while paying off the purchase price in periodic installments, despite the title being retained by the seller until the future date of final payment
Insured closing letter	An indemnity provided by a title insurance company to a lender, whereby the title insurance company assumes responsibility in the case that the closing agent does not fulfill the terms of the loan, or misappropriates the loan proceeds
Insured mortgage	A mortgage that is protected by the Federal Housing Administration (FHA) or by private mortgage insurance (MI) so that if the borrower defaults on the loan, the insurer compensates the lender the lesser of the loss incurred or the actual insured amount
Interest rate buydown plan	An arrangement made for the initial years of a mortgage whereby the seller (or any other party) deposits money into an account that is then released toward the monthly payments on the mortgage, thereby bringing the mortgagor's interest rate down below the actual interest rate
Interest rate ceiling	The maximum interest rate for an adjustable-rate mortgage (ARM), as specified in the mortgage note
Interest rate floor	The minimum interest rate for an adjustable-rate mortgage (ARM), as specified in the mortgage note
Interim financing	A temporary or short-term loan, often made during the construction phase of a building project, and usually replaced by a permanent long-term mortgage
In testate	The condition of dying without leaving a will. The description of an estate without a will
Involuntary lien	A claim or charge against property placed without the consent of the property's owner

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

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Real Estate Tips

Zoning Laws >Zoning In

Every city and county has zoning laws that define and restrict how property owners can use the land. The purpose of zoning regulations is to establish development standards and to ensure that the land is used for the common good.

There are restrictions on both the type of structures you can build and how the property can be used. Common zoning categories are residential, agricultural, industrial, commercial and recreational. There are sub-categories such as single-family residential zones and multiple family residential zones, (areas where condo and apartment complexes are permitted.)

Zoning ordinances also contain restrictions on the height and square footage of the buildings, the number of stories allowed and how close buildings can be to one another. They state what kinds of facilities are required for each form of use -- for instance, a residential property must have a driveway. Whether you intend to buy a new piece of property or improve one that you already own, zoning laws will dictate what you will be able to do with your land.

	See All Tips In The "Zoning Laws" Category >
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Real Estate Trivia

Q	What famous American building was originally built in 1792, burned and rebuilt 1814-1818 and restored in 1952?
A	The White House in Washington, D.C., modeled after an Irish palace, is a sumptuous example of post-colonial architecture.
See More Real Estate Trivia >

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Rhonda Mortensen Long & Foster Real Estate Inc. Bethesda Gateway Office 4650 East West Highway Bethesda, Maryland 20814 Office: 301-907-7600 Home: 301-585-1180 Toll Free: 800-762-0294 Fax: 301-907-6610 Email: rhondamortensen@NUMBER1EXPERT.com Email: rhondamortensen1@gmail.com Together we will work as a team to buy the perfect house or sell your current home. My role is to listen and understand your needs, wants, requirements and timelines with 100% clarity. Then, with my market expertise, we will develop a solid plan of action. Rest assured, I will be in contact with you daily with new leads so that we can move swiftly against timelines. I will be available to you at all times via phone, email or in-person – whichever style of communication you prefer. Contact me now!

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