Tech Support: CT Mortgage Calc


Mortgage Terms

Mortgage[wikipedia] a conveyance of an interest in property as security for the repayment of money borrowed.
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] 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

Interests Rates & Home Ownership Rates

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