What is "amortization schedule"?

“Amortization” means how long it will take you to pay off your mortgage. A typical mortgage is amortized over 25 years, so that means if you bought the house and made your payments on it for 25 years you would own it. You can choose different amortizations such as 15 or 20 years or really any amount. The amortization years you choose could lessen the amount of interest you pay and you would pay off your home faster. It doesn’t actually cost much more per month to save years of payments.
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