| 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] how many years the borrower has to repay the mortgage |
| 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 |
