Requires a fixed payment of principal each period.
A kind of mortgage where the principal and interest to be paid are based on the principal remaining. An amortized mortgage.
A mortgage for which the amount of principal paid each period remains constant, but the total payment varies as interest charges decline over the life of the mortgage.
An amortized mortgage. One on which principal and interest being computed on the remaining balance.
An amortized mortgage in which principal and interest are computed on the remaining balance.
A fully amortized mortgage necessitating periodic payments of both interest and principal. In the early years of the loan, he share of principal is smaller and the interest larger. This gradually reverses toward the end of the period.