| Mortgage | [wikipedia] used either by purchasers of real property to raise funds to buy real estate; or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged |
| 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] how many years the borrower has to repay the mortgage |
| 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 interest rate does not change throughout the term |
