Support for CT Mortgage Calculator


Interests Rates & Home Ownership Rates




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Glossary and Definitions

Mortgage[wikipedia] a loan obtained through the conveyance of property as security.
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 years allowed to pay back a mortgage loan
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 remains fixed for the length of the term