Mortgage Calculator Definition of Terms
Total Mortgage Amount
It is the amount that the borrower wishes to borrow. For example, 250000.
The number of years to amortized the mortgage loan. For example, 20, 25, or 30 years are common
Points Required to Discount the mortgage loan's Interest Rate. For example, 5.25 quotes by lender
An amount paid by homeowner to add or improve the property.
Unclaimed Discount Points
Outstanding balance which was not deducted from tax return.