[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 on which the interest rate, after an initial period, can be changed by the lender.
Fixed Rate Mortgage
[bankrate] A mortgage in which the monthly payment based on interest does not change