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Term Definition
Income PropertyReal estate that is owned for investment purposes and not used as the owner's residence.
 
InterestA charge paid for the use of money.
 
Interim FinancingA short-term loan secured by the equity in an as-yet-unsold house, with the funds to be used for a down payment and/or closing costs on a new house. There is no payment of principal until the house is sold or the end of the loan term, whichever comes first. Interest payments may or may not be deferred until the house is sold.
 


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