Mortgage Definitions:

• Mortgage Amount - The original or expected balance for your mortgage.
  
  
• Mortgage Term - The number of years over which you will repay this loan.
  
  
• Interest Rate - The annual interest rate for this mortgage.
  
  
• Annual Tax - The annual amount you expect to pay in property taxes.
  
  
• Annual Insurance - The annual amount you expect to pay in home owners insurance.
  
• Monthly Payment(PI) - The monthly principal and interest payment.
  
  
• Monthly Payment(PITI) - The monthly payment including pricipal, interest, home owners insurance and property taxes.