mortgage

What is an amortization schedule?

 

What is an amortization schedule?

The Bankrate.com financial term of the day is: "amortization schedule" or "amortization table."

There's a science to paying off a mortgage, and the details can be seen in something called an amortization schedule or amortization table. It's a chart breaking down the loan into payments, and it shows how those installments are split into principal and interest and also how the payments gradually reduce the unpaid balance.

An amortization schedule, or amortization table, shows where your money goes as a loan is paid off over time, in installments.

To shop for the perfect home loan, visit the Mortgage section at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Flat-rate car towing as needed

Goodyear has introduced a roadside assistance program where you pay a flat rate whenever you need a tow with no annual fee.  ... Read more


Connect with us