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Law Office of William F. Scofield
William F. Scofield, LLC Attorney at Law
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Glossary
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 all
 
Index
An economic indicator that is used to determine changes in the interest rate of an Adjustable Rate Mortgage (ARM). U.S. Treasury Bills and notes are the most common but there are others. The rate is periodically adjusted to the index value plus a margin.
 
Insurance
Protection against a specific loss over a period of time that is secured by the payment of a regularly scheduled premium.
 
Interest
The charge paid for borrowing money.
 
Interest Rate
The amount of interest charged on a monthly loan payment; usually expressed as a percentage.
 
Interim Financing
See Construction Loan
 
Investment Property
Generally, any property purchased for the primary purpose of profit. The profit may be from rental income or from resale.
 
Investor
The actual source of money for the mortgage.
 
These definitions are provided for informational purposes only. William Scofield, LLC shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
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