Mortgage | [wikipedia] a conveyance of an interest in property as security for the repayment of money borrowed. |
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 years allowed to pay back a mortgage loan |
Adjustable Rate Mortgage | [investopedia] A mortgage on which the interest rate, after an initial period, can be changed by the lender. |
Fixed Rate Mortgage | [bankrate] A mortgage in which the interest rate remains fixed for the length of the term |
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