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What is amortization?

April 26, 2017amortization Amortize Amortizing breaking news calculation calculator citrus Estate Finance financing funds Home Investing money mortgages radar

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What is amortization?

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Amortization is the repayment of a mortgage debt with periodic payments of both principal and interest, calculated to retire the obligation at the end of a fixed period of time.

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Amortization is the repayment of a mortgage debt with periodic payments of both principal and interest, calculated to retire the obligation at the end of a fixed period of time.

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Amortization is the period it would take you to pay off your mortgage in full. As long as you maintain the same terms and payment periods of your loan your amortization period will be whatever the term of your mortgage was when it was first taken out.

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This is how your payments break down during the life of the loan. It involves dividing the principal and total interest charges into equal payments and will completely pay off the debt at the end of the term.

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Amortization is the division of principal and total interest charges into equal payments that will result in the complete payment of the debt by the end of a fixed period of time.

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