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Washington Real Estate
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Lindsey Martin Tel: 509-886-8888 Cell: 509-699-1022
Michael Chandler Tel: 509-670-1375
Jon Port Tel: 509-669-5400
1833 N. Wenatchee Ave Wenatchee, WA 98801 Jon Port Fax: 509.665.8888

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Loan Process Tips and Tricks Faqs Glossary

Glossary

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Improvements
Additions to raw land such as buildings, streets, etc. that add value to the land.
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 reserves.
Income Approach
A method used by an appraiser to estimate the value of a property based on the income it generates.
Income Property
Real estate that generates rental income. Examples : apartment buildings, office buildings and shopping centers.
Index
A statistic that indicates some current economic of financial condition. Indexes are used to make adjustments in variable rate loans.
Ingress and Egress
The right to go in and out over a piece of property but not the right to park on it. See also Easements.
Installment Sale
See land contract.