Added to the index value of the loan to determine the note interest rate. This margin is fixed for the life of the loan.
Interest-only loan
Loan, where only the interest is paid each month. Therefore, the outstanding amount of principal is not reduced.
Interference
(1) A collision, clash or conflict. (2) To come into contact or between two parties for a purpose. (3) Intervention. (4) Mutual action of two waves or streams of vibrations in reinforcing or neutralizing each other according to their relative phases on meeting.
Interference fit
Also called a drive fit, this very tight fit requires force to mate the parts.
Interim financing
Financing, used for a short term, to bridge the gap between the purchase of a home and the sale of a home, is also called a "bridge loan". Construction loans are interim financing.
Interim loan
Loan that is to be replaced by a permanent loan.
Interim use
Temporary use of property in a non-conforming use, which can be overturned by a formal zoning ruling.
Interior
Situated within. On the inside of something.
Interior door
Doors that are used on rooms within a building and are not constructed to be exposed to the elements.
Interior finish
Material used on the interior, rather than exterior, walls of a building.
