Mark's Mortgage Minute

What is Mortgage Amortization?

If you have a fixed-rate home mortgage, you pay the exact same amount each month. But did you know that the amount of principal you pay toward the balance of your loan changes from month to month? This is called amortization and it is a method of distributing the interest and principal over the course of a loan so that it is completely paid off by the end of the loan term. Understanding how it works could help save you plenty of interest on your mortgage. How does it work? When you agree to buy a house at a certain price, in reality, you will end up paying way more than that price to you...

May 8th, 2019 | Credit, Interest Rates, What is Mortgage Amortization?

Mark Moyes (NMLS# 267431)

Phone: 801-999-0886 | Fax: 888-835-4067
746 East Winchester Street, ste 100,
Murray, Utah 84107
Intercap Lending (Corporate NMLS# 190465)
www.nmlsconsumeraccess.org

Intercap Lending NMLS: 190465