Index
A published rate or benchmark measure of current interest rate levels used to calculate periodic changes in rates charged on adjustable rate mortgages.

Index
a search engine's database in which it stores textual content from every web page that its spider visits.

Inspection  
The examination of a piece of property, its buildings or other amenities.

Installment Sale
A tax term used to describe a sale which is usually accomplished by use of a land contract.

Insurable Title
The title to property which has been sufficiently reviewed by a title insurance company, such that they are willing to insure it as free and clear.

Insured Mortgage
A mortgage insured against loss to the mortgagee (lender) in the event of default and failure of the mortgaged property to satisfy the balance owing plus cost of foreclosure.

Interest Payment Notification
A federal tax form that lenders use at year end to notify borrowers of the interest that was paid on their mortgage over the last year.

Interest Rate
The percentage of an amount of money which is paid for its use for a specified time.

Interest Rate Differential Amount (IRD) 
An IRD amount is a compensation charge that may apply if you pay off your mortgage principal prior to the maturity date or pay the mortgage principal down beyond the prepayment privilege amount. The IRD amount is calculated on the amount being prepaid using an interest rate equal to the difference between your existing mortgage interest rate and the interest rate that we can now charge when re-lending the funds for the remaining term of the mortgage. For more information, click on compensation amounts.

Interest Rate Swap
A transaction between two parties in which each agrees to exchange payments tied to different interest rates or indices for a specified period of time, generally based on a notional principal amount.