What is Amortization? - Find the definitions of mortgage loan terms using our
morgage glossary...
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What is Amortization?
The repayment of principal from scheduled mortgage payments that exceed the interest due. The scheduled payment less the interest equals amortization. The loan balance declines by the amount of the scheduled payment, plus the amount of any extra payment.What is Mortgage Amortization?
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MORGAGE GLOSSARY
Amortization | Amortization Schedule | Annual Percentage Rate - APR | Biweekly Mortgage | Bridge Loan | Cash Out | Conforming Mortgage | Conventional Morgage | Debt To Income Ratio | Direct Lender | Discount Mortgage Broker | Discount Points | Good Faith Estimate | Grace Period | Impounds | Interest Only | Jumbo Morgage | Loan To Value | LTV | Negative Amortization | No Ratio | Option Arm | Piggyback | PITI | PMI | Prepayment Penalty | Reverse Mortgage | Subprime | Truth in Lending | Wholesale Lender | Yield Spread Premium | YSP