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Houston Mortgage > Glossary >
Real Estate > I 1-10
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Indorsement
1. the act of signing one's name on the back of a check or a note, with or without further qualification.
2. the signature described above.
Installment note
a note which provides that payments of a certain sum or amount be paid in more than one payment on the dates specified in the instrument.
Installment sale
also known as an agreement of sale or a land contract. This is a method of reporting capital gains by installments for successive tax years to minimize the impact of capital gains tax in the year of the sale.
Institutional lender
a lender which makes a substantial number of real estate loans, such as banks, savings and loan associations, and insurance companies.
Interest Rate
Cost of borrowing money expressed as a percentage of the amount borrowed.
Introductory Rate
Some loans have a lower introductory interest rate, which is in effect for a limited time. At the end of the introductory period, the interest rate will increase. It is also known as a "teaser rate."
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