Amortization
Amortization of Mortgage Interest
The amortization of a mortgage interest rate is also very difficult for many to understand but it too is very important when it comes to how much you pay every month and for the life of the loan.
Many mistakenly think that the interest amount of their mortgage is a set amount that is tacked onto the loan itself. They assume then that if the interest is 5% on a $100,000 loan then this $5,000 is added to the $100,000 and ... Read More »