Loan amortization sounds like a complicated term, but its meaning is fairly straightforward. Amortization refers to the series of regular payments you make on a loan in order to pay off both ...

Mortgage amortization simply refers to the process of paying off your home loan in regular monthly payments over a fixed period of time. So if you get a mortgage with a 15-year term, it means the ...

The table below shows a truncated mortgage amortization schedule for a 30-year, fixed-rate home loan worth $400,000 at a 5% interest rate. The monthly payment stays the same throughout the life of ...