Indiana Mortgage Rate
Indiana Mortgage Rate
Indiana Mortgage Rate

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Real Estate Terms of the Day for Indiana Mortgage Rate



TOWNHOUSE
A type of dwelling unit normally having two floors, with the living area and kitchen on the base floor and the bedrooms located on the second floor.

ADHESION CONTRACT
A contract which is very one-sided and favors the party who drafted the document.

DEPTH TABLE
Tables of percentage designed to provide a uniform system of measuring the additional value to lots which accrues because of added depth, with the extra depth valued according to the added utility which it creates.

ASSIGNMENT
The transfer of the right, title and interest in the property of one person, the assignor, to another, the assignee. In real estate, there are assignments of mortgages, contracts, agreements of sale, leases, and options, among others.

LATERAL AND SUBJACENT SUPPORT
The support received by a parcel of real property from the land adjoining it is called lateral support. Subjacent support is that support which the surface of the earth receives from its underlying strata.

ASSESSED VALUATION
The value of real property as established by the state government for purposes of computing real property taxes.

MORTGAGE BANKER
A corporation or firm which normally provides its own funds for mortgage financing.

CAPS (PAYMENT)
Consumer safeguards which limit the amount monthly payments on an adjustable-rate mortgage may change. Since they do not limit the amount of interest the lender is earning, these consumer safeguards may cause negative amortization.

WAREHOUSE
A building used to store merchandise and other materials or equipment.

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