Impound Account
That portion of a borrower's monthly payments held by the lender or servicer to pay for taxes, hazard insurance, mortgage insurance, lease payments, and other items as they become due. Also known as Escrows or Impounds.

Income Approach
A method used by an appraiser to estimate the value of a property based on the income it generates.

Index
A statistic that indicates some current economic or financial condition. Indexes are used to make adjustments in variable rate loans.

Ingress & Egress
The right to go in and out over a piece of property but not the right to park on it.

Insured Loans
A loan insured by HUD-FHA or a private mortgage insurance company.

Interest
Consideration in the form of money paid for the use of money. Also a right, share or title in property.

Interest rate
The percentage of an amount of money which is paid for its use for a specified time. Investment Property Real estate owned with the intent of supplementing income and not intended for owner occupancy.