First of all, let us define what "amortization" means?  Amortization is the process of payment of a debt or mortgage loan over time by installments.  The word "Amortize" means to "break down gradually" (as in the amount of money you owe).

Therefore an amortization schedule is a timetable for repayment of a debt or mortgage loan, showing the amount of each payment, what portion is applied to interest and principal, and the remaining balance.

Buying a house? Car? Getting a loan?  To help you to figure out the payment on a loan, *CLICK HERE for an amortization schedule calculator.  This page will help you see what your payment plan will be, for repaying the loan.

Do any of these definitions raise questions for you?  Let us know!  We are happy to answer any questions.  There's no obligation.  Our agents are here to help in any of your real estate needs. 

*Information provided by http://www.amortization-schedule.info/ | December 7, 2011

 


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