| Mortgage | [wikipedia] an agreement that allows you to borrow money from a bank or similar organization by offering something of value, esp. in order to buy a house or apartment, or the amount of money itself |
| 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 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 interest rate remains fixed for the length of the term |
