• Like

  • Follow
Bookmark and Share

Mortgage Amortization and Monthly Payments


What is amortization and how do interest rates affect your monthly payment?
When a lending institute loans you money it amortizes the loan or, in other words, it calculates the entire amount of the loan and interest over the time of the mortgage and divides it by the number of months you are paying for the loan. The interest is front-loaded, which means you are really paying mainly interest for the first few years so the bank gets paid first.

Below is an example of an amortization table for the first twelve months of a loan for $115,000 over 30 years at 8% interest rate.

Loan Amount


Rate This Article From 1 (Lowest) to 5 (Highest)
Average



Relocation.com
In the Press

A Moving Company's Moving Story
June, 2012

Relocation.com's survey was recently featured on the front page of USA Today. The headline entitled "Moving in Hard Times" highlighted our results that moving and relocating behaviors were only moderately influenced by the economy.

USAToday

Our lifestyle survey found that Americans are seeking smaller homes and a suburban lifestyle. These riveting results were recently featured on USAToday.com in an article entitled "American dream shrinks as smaller homes gain favor."

"This user-friendly site includes a blog and a subscription-only newsletter, too"

The Washington Post

"Relocation.com provides you with all the tools you need to get quotes quickly from movers in your area."

CNet

The Business Week

CommercialAppeal.com