What is amortization?
The amortization of a loan is the process by which the balance is reduced over time. The payment schedule for your loan is called its amortization schedule. The payment schedule for your loan is called its amortization schedule—a table showing how each scheduled payment breaks down between principal and interest and how the loan balance declines over time.
In addition to our glossary, we have a library of downloadable PDFs that cover amortization, re-amortization, and other mortgage fundamentals.
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