Online Help - Loan Calculator


Glossary of Terms

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 percentage of a loan that is charged as interest by the lender to the borrower, expressed as an APR (annual percentage rate) of the remaining loan
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 interest rate does not change throughout the term

Interests Rates & Home Ownership Rates

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