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LSDefine

Simple English definitions for legal terms

amortized mortgage

Read a random definition: benefit of counsel

A quick definition of amortized mortgage:

An amortized mortgage is a type of loan where the borrower pays back both the interest and a portion of the principal in regular payments. By the end of the loan term, all payments will have fully repaid the loan. This is different from a straight mortgage where only interest is paid during the term and the principal is paid in a lump sum at the end.

A more thorough explanation:

An amortized mortgage is a type of mortgage where the borrower makes periodic payments that include both interest and a portion of the principal. By the end of the mortgage term, the borrower will have completely repaid the loan. This type of mortgage is also known as a self-liquidating mortgage.

For example, if a borrower takes out a 30-year amortized mortgage for $200,000 at a fixed interest rate of 4%, their monthly payment would be $955. The payment includes both interest and a portion of the principal, so over time, the borrower's equity in the property increases as the loan balance decreases.

Amortized mortgages are the most common type of mortgage used for home financing. They provide borrowers with a predictable payment schedule and a clear path to full repayment of the loan.

amortized loan | amortizement

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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