Understanding Real Estate Terms…. Amortization

Buying a home involves a lot of terminology that can feel like a foreign language, especially the first time around . Today we are continuing a series of breaking down the most common real estate terms that every aspiring homeowner should understand . The more you know, the better prepared you’ll be.

Amortization 

In real estate, amortization refers to paying off your mortgage. It refers to making regular payments to the bank or mortgage lender  until your debt has been completely paid off. The number of year it will take to pay off your mortgage is the length of your amortization period. 

Find out more on this and other terms at hgtv.ca. Also give Melody Wilson a call at 780-945-7821 for all your real estate needs! 

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