Fees collected from developers of new homes to pay for schools, parks, and other facilities. …
Implied Warranty Of Habitability
Legal doctrine stating that all new homes are assumed to be fit for human habitation and meet all building codes. …
Impounds
A portion of the monthly mortgage payment that is placed in an account and used to pay for hazard insurance, property taxes and private mortgage insurance. …
Improvement
A change that adds value to a house, prolongs its useful life, or adapts it to new uses. …
In-file Credit Report
A computer-generated report drawn from credit repositories and generally regarded as an objective history. …
Income Property
Property that is not occupied by the owner but is used to generate income. …