The length of time over which an amortized loan is repaid. Mortgages are commonly amortized over 15 or 30 years.
The period of time over which the loan will be amortized, usually expressed in months. see also term
The amount of time (expressed in months) required to repay the mortgage loan. For a 30-year mortgage, the amortization term is 360 months (30 years X 12 months).