| 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 proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. |
| Term | [mtgprofessor] the number of years to pay back 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 interest rate does not change throughout the term |
