Online Tech Support: CT Calculator


Glossary and Definitions

Mortgage[wikipedia] a conveyance of an interest in property as security for the repayment of money borrowed.
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] how many years the borrower has to repay the mortgage
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 does not change throughout the term

Interests Rates & Home Ownership Rates




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