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?

American Pacific Mortgage

(NMLS# 301003)
Company NMLS# 1850

1001 W. Tehachapi Blvd., Ste A100,
Tehachapi, California 93561
Phone: 661-822-5523

BRE 012163368 / 01215943 | NMLS 301003
Licensed by the Department of Business Oversight under the CRMLA. NMLS Consumer Access Link

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American Pacific Mortgage Corporation, Real Estate Loans, Tehachapi, CA