**Mortgage Calculator Definition of Terms**
**Original Mortgage Amount**

It is the original amount that the borrower wishes to borrow. For example, 250000.

**Original Mortgage Term**

The original number of years to amortized the mortgage loan. For example, 20, 25, or 30 years are common

**Original Interest Rate**

The original percentage of an amount of money which is paid for its use for a specified time. For example, 5.25 quotes by lender

**Months Left to Pay the Original Mortgage**

How many more months to pay the mortgage loan.

**New Mortgage Amount**

It is the new amount that the borrower wishes to borrow. For example, 250000.

**New Mortgage Term**

The new number of years to amortized the mortgage loan. For example, 20, 25, or 30 years are common

**New Interest Rate**

The new percentage of an amount of money which is paid for its use for a specified time. For example, 5.25 quotes by lender