Purchase Price is the total price for the house you wish to buy.

Down Payment is the amount of the down payment you have already saved.

Loan Amount is the Purchase Price minus the Down Payment. In this calculator, it
is calculated automatically when you fill in a purchase price and a down payment.

Interest Rate is the interest rate the bank would charge you for your loan. In
this calculator, you do not have to include the % sign.

ARM Cap If you have an Adjustable Rate Mortgage, this is the lifetime cap for your
interest rate (i.e. if you have a cap of 5%, then your interest rate cannot go above or below 5% of the original
interest rate.) In this calculator, you do not have to include the % sign.

Number of Years is the length of the mortgage you are considering.