Amortization: The process of paying off a debt with periodic payments or installments. Mortgages are an example of an amortizing loan. Usually, you pay a certain amount each month, with a percentage going to the principal and interest.
Amortization: The process of paying off a debt with periodic payments or installments. Mortgages are an example of an amortizing loan. Usually, you pay a certain amount each month, with a percentage going to the principal and interest.