Glossary

Regular income from earnings, commissions, investments, rental payments or other sources.
Real estate developed or improved to produce income.
The increase in price of consumer goods, usually expressed as a percentage over a specific period of time.
A request for your credit report, made by a company considering you for an offer of credit.
A loan that is repaid in equal payments, known as installments.
A contract that provides compensation for specific losses in exchange for a periodic payment. An individual contract is known as an insurance policy, and the periodic payment is known as an insurance premium.
Denotes a right, claim, title or legal share in property.
A fee charged for borrowing money. Also refers to money that a financial institution may pay individuals for keeping their money in an account there (such as an interest-bearing savings account).
The portion of a monthly payment that goes to interest based on the amortization schedule
Cost for the use of a loan proceeds, usually expressed as a percentage of the outstanding loan proceeds, paid over a specific period of time. The interest rate does not include fees charged for the loan.
A loan for which you pay only the interest due for a portion of the loan term. This lowers your periodic payment but does not decrease your principal balance on the loan.
Property that is purchased to generate rental income or to be sold once it has appreciated in value.
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