REAL ESTATE 101

Income property
A property which is owned or developed specifically to produce income for its owner.

Indenture
Similar to a contract. An agreement between two or more parties, often referring to land.

Inside lot
Term for a property that is not located on a corner at the intersection of two roads.

Institutional Lender
An accredited financial organization (i.e. bank, trust company, credit union, etc.) which offers loans.

Insured Mortgage Loan (CANADA)
A first mortgage loan, often for more than 75% of the value of the property, where the lender has the mortgage insured by either CMHC or a private mortgage insurance company. Mortgage loans of more than 75% of the value are also called high-ratio loans.