06/17/2026
Mortgage Dictionary: Amortization
Ever wonder where your mortgage payment actually goes each month?
Amortization is the schedule that shows how your mortgage payments are applied toward principal and interest over the life of your loan. In the beginning, more of your payment goes toward interest. As time goes on, more goes toward paying down your loan balance and building equity.
🏡 Why does it matter?
✔ Understand how your loan is paid off over time
✔ See how equity grows with each payment
✔ Learn the impact of making extra principal payments
The more you understand your mortgage, the more confident you’ll feel on your homeownership journey!
Have questions about buying, refinancing, or understanding your mortgage?
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