Online Help for CT Loan Calculator

Interests Rates & Home Ownership Rates

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Glossary of Terms

Mortgage[wikipedia] a conveyance of an interest in property as security for the repayment of money borrowed.
Interest Rate[dictionary] The usual way of calculating interest - as a percentage of the sum borrowed.
Term[mtgprofessor] the years allowed to pay back a mortgage 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 remains fixed for the length of the term