The amount of time to pay off (amortize) the loan, broken down into months. For instance, a standard 30-year fixed-rate mortgage amortization term is 360 months.
Amortization Term« Back to Mortgage Terms
The amount of time to pay off (amortize) the loan, broken down into months. For instance, a standard 30-year fixed-rate mortgage amortization term is 360 months.
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