| 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 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] a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets |
| Fixed Rate Mortgage | [bankrate] A mortgage in which the monthly payment based on interest does not change |
