Interest Rate

Annual interest rate for each loan.

Product Type

Product Type for each loan.

Mortgage Term

The duration of each loan. An ARM (Adjustable-Rate Mortgage) is a mortgage loan where the interest rate on the note is periodically adjusted based on a variety of indices. An ARM is amortized using a 30 year term and "life of the loan" is the ARM term. A 5 year ARM would have a term of 60 months (5 years).

Principal & Interest Payment

The principal and interest payment for each loan based on the term and rate. ARM loans are amortized using a 30 year term and will usually either convert to another loan type or have a balloon payment due.

Discount Points

Total discount points paid when the loan is originated.

Discount Points per Month

This value is total discount points spread out over the term of the loan. If the loan is a 5 Year ARM then the discount points are divided by 60 months (5 years). Discount points are paid when you originate the loan. This amount is NOT added to your payment, it can be used to see how much the discount points cost each month over the life of the loan.

Total Interest Paid

This value is the total interest paid over the term of the loan. If the loan is a 5 Year ARM then the interest is totaled for 5 years.