Internet Banking Facts
 
 

What is Amortization?

Amortization is something everyone who wants to go out and get a loan needs to know about. Here are some things about Amortization:

  • Amortized payments are calculated by dividing the principal.
  • Each payment is structured and determined with Amortized loans.
  • Eliminate and lower payments by getting payments in on time.
  • Amortized Loans are the same as mortgage loans.
  • Get payments with fixed monthly interest rates.

Amortized loans are a different way of calculating payments and the interest rate of the loans. With this information, you are now better prepared to discuss loan amortization with your lending company.