[wikipedia] a legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.
[dictionary] The usual way of calculating interest - as a percentage of the sum borrowed.
[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 interest rate remains fixed for the length of the term