| Mortgage | [wikipedia] a legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt. |
| Interest Rate | [dictionary] The percentage of a loan that is charged as interest by the lender to the borrower, expressed as an APR (annual percentage rate) of the remaining loan |
| Term | [mtgprofessor] the number of years the lender has offered the borrower to repay the loan |
| Adjustable Rate Mortgage | [investopedia] An adjustable-rate mortgage is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan |
| Fixed Rate Mortgage | [bankrate] A mortgage in which the monthly payment based on interest does not change |
