| 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 interest percent that a bank or other financial company charges you when you borrow money, or the interest percent it pays you when you keep money in an account |
| 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 |
