Arizona Real Estate
Mortgage Professional

Fidel Manzano 10000 N 31st Ste. A103 Phoenix, AZ 85051 Profusion Real Estate Off.: 602.499.3143 Off.2: 602.795.8538 Cell: 602.499.3143 Fax: 602.795.8539

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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.