Publisher's Synopsis
With each mortgage payment, some of the money reduces the loan balance, and some pay interest. This allocation is called amortization. While the earliest payments mostly cover interest, the split changes over time. That's because as the loan gets smaller, less interest gets charged.
This Practical Mortgage Guide Covers Topics Like:
- Mortgage Lending & Broker
- Subprime, Reverse & FHA Mortgage
- Commercial & Residential Mortgage
- Escrow, Points & Settlement Costs
- Home Equity & Loan Modification
- Home Equity & Loan Modification
