- Annuity payment
- Constant monthly instalment covering interest and principal for an amortising loan.
- Remaining loan balance
- Principal still owed after scheduled payments up to a given year.
- Fixed-rate period
- Years the contract rate is fixed; afterwards refinancing assumptions may apply.
- Purchase closing costs
- Broker, notary/land-register share, and transfer tax as percentages of price.
- Nominal vs effective rate
- Nominal is the stated yearly rate; effective includes intra-year compounding from monthly payments.