Index:
A market fund rate that may be tied to an adjustable rate.

Intangible Mortgage Tax:
Tax based on the amount of the buyer's mortgage.

Interest:
The amount charged by a lender for the use of money.

Definitions are intended to be informational only. Please be advised that real estate practices vary from state to state and market to market. The information contained herein does not constitute legal advice. It is recommended that you consult with a qualified real estate attorney who can advise you specifically with respect to the requirements in your market.