{"id":28597,"date":"2026-02-23T17:27:53","date_gmt":"2026-02-23T17:27:53","guid":{"rendered":"https:\/\/fundspaid2u.com\/?p=28597"},"modified":"2026-02-23T17:27:54","modified_gmt":"2026-02-23T17:27:54","slug":"what-is-mortgage-amortization-bankrate","status":"publish","type":"post","link":"https:\/\/fundspaid2u.com\/?p=28597","title":{"rendered":"What Is Mortgage Amortization? | Bankrate"},"content":{"rendered":"<div>\n        \n        <div id=\"block_b1cd39b95c05636e48ce8d92fc1860c5\" class=\"key-takeaways sm:border-l-4 border-(--accent) sm:pl-8 my-8 relative\" style=\"--accent: var(--color-blue-medium)\">\n    <!-- htmlmin:ignore -->\n\n<h2 class=\"heading-4 mt-0 mb-4 text-crop-none max-sm:flex max-sm:items-center max-sm:gap-4\" id=\"key-takeaways\" data-position=\"0\" data-beam-element-viewed=\"\" data-id=\"br-h2-0-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Key takeaways\" data-outcome=\"\">\n    <span class=\"shrink-0\">Key takeaways<\/span>\n        <span class=\"max-sm:h-0.5 max-sm:w-full max-sm:w-full max-sm:bg-(--accent) max-sm:rounded-full max-sm:block\"\/>\n    <\/h2>\n    <!-- htmlmin:ignore -->\n\n    <ul class=\"flex flex-col text-gray-700 mb-0 gap-2 list-disc\">\n                    <li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            Mortgage loan amortization refers to how you repay your mortgage balance over the loan term.\n                                                <\/li>\n                    <li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            At the beginning of your loan term, more of your payment goes toward interest, but this reverses closer to the end of the term.\n                                                <\/li>\n                    <li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            You can use your amortization schedule to find the best repayment strategy for your needs.\n                                                <\/li>\n            <\/ul>\n<\/div>\n\n\n\n<h2 id=\"what-is\" data-position=\"1\" data-beam-element-viewed=\"\" data-id=\"br-h2-1-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"What you need to know about mortgage amortization\" data-outcome=\"\"><strong>What you need to know about mortgage amortization<\/strong><\/h2>\n\n\n\n\n<p>Mortgage amortization describes the process by which a borrower makes installment payments toward a loan balance over a set period. These payments are divided between principal (the amount borrowed) and interest (the amount the lender charges to borrow the funds).<\/p>\n\n\n\n\n\n\n\n<p>The longer the loan amortization period, the lower your monthly payment \u2014 this is because your amount owed is spread over a longer term. That might seem like a positive, but it also means that you\u2019ll spend more money on interest over a long repayment term.<\/p>\n\n\n\n\n\n<p>Plus, interest payments are front-loaded on mortgage loans. This means it takes a significant amount of time to reduce the principal and build equity in your home \u2014 a factor to consider when comparing your loan options.<\/p>\n\n\n\n<section class=\"editorial-insight-box --insight-box +mg-vertical-md\" data-template=\"insight_box\">\n    <div class=\"card-body border-l-4 border-blue-800\">\n                    \n                <div class=\"content-wrapper\">\n                            <p>\n                    Loan term vs. loan amortization\n                <\/p>\n                        <div class=\"content wysiwyg wysiwyg--flush\">\n                \n<p>A loan\u2019s term and a loan\u2019s amortization period are similar, but they describe different things. The loan\u2019s term describes the amount of time you have to pay off a loan, while an amortization schedule describes the composition of each payment. Mortgages often have a 30-year term and a 30-year amortization schedule, but that\u2019s not always the case. <\/p>\n\n\n            <\/div>\n        <\/div>\n    <\/div>\n<\/section>\n\n\n\n<h3>How amortization works with fixed-rate mortgages<\/h3>\n\n\n\n\n<p>With a <u>fixed-rate mortgage<\/u>, the monthly principal-and-interest payments remain the same throughout the loan\u2019s term. However, each time you make a payment, the amount of the payment that goes to the principal differs from the amount that gets applied to interest \u2014 and this balance shifts a bit with each payment.<\/p>\n\n\n\n\n\n<p>As your mortgage ages, your fixed monthly payment stays the same, but the \u2018slice\u2019 of that payment dedicated to interest shrinks, while the portion used to build equity grows. Your early years of repayment are spent primarily covering interest costs, while your final payments are almost entirely focused on wiping out the remaining principal.<\/p>\n\n\n\n\n\n\n\n\n<h3>How amortization works with adjustable-rate mortgages<\/h3>\n\n\n\n\n<p>On the other hand, an <u>adjustable-rate mortgage (ARM)<\/u> comes with a fixed interest rate for an initial period, usually between three and 10 years. After that, your rate \u2014 and, therefore, your monthly mortgage payment \u2014 will change every six or 12 months, depending on the type of ARM you have.<\/p>\n\n\n\n\n\n<p>Like fixed-rate mortgages, you\u2019ll pay a bigger chunk toward the interest at first. Over time, this will shift, so more of your payment goes toward the loan principal.<\/p>\n\n\n\n<div class=\"DefinitionList mb-8 DefinitionList--table\">\n            <!-- htmlmin:ignore -->\n<h3 class=\"type-heading-three leading-8 sm:leading-10 mb-6\">\n    Mortgage amortization key terms\n    <\/h3>\n    <!-- htmlmin:ignore -->\n        <dl>\n                                    <div class=\"Definition-item flex\">\n    <dt class=\"text-gray-900\">Amortization schedule<\/dt>\n    <dd class=\"text-gray-700\">\n\n<p>A mortgage amortization schedule is a list of all the payment installments and their respective dates, most easily made with an amortization calculator. You might find your mortgage amortization schedule by logging into your lender\u2019s portal or website and accessing your loan information online. In some cases, you may need to contact your lender to request it.<\/p>\n\n<\/dd>\n<\/div>\n                            <div class=\"Definition-item flex\">\n    <dt class=\"text-gray-900\">Annual Percentage Rate (APR)<\/dt>\n    <dd class=\"text-gray-700\">\n\n<p>Compared to the interest rate on the mortgage, the annual percentage rate (APR) is a broader measure of your cost of borrowing money. The APR reflects the interest rate plus any points, mortgage broker fees and other charges that you pay to get the loan. The APR is almost always higher than the interest rate.<\/p>\n\n<\/dd>\n<\/div>\n                            <div class=\"Definition-item flex\">\n    <dt class=\"text-gray-900\">Loan term<\/dt>\n    <dd class=\"text-gray-700\">\n\n<p>This is the length of the loan. The most common mortgage term is 30 years, but 15-year terms are also popular.<\/p>\n\n<\/dd>\n<\/div>\n                            <div class=\"Definition-item flex\">\n    <dt class=\"text-gray-900\">Principal<\/dt>\n    <dd class=\"text-gray-700\">\n\n<p>This is the amount you borrowed. For instance, if you took out a $400,000 mortgage, your principal balance is $400,000, and does not include any accumulating interest. You pay down some of that principal with each monthly payment.<\/p>\n\n<\/dd>\n<\/div>\n                        <\/dl>\n<\/div>\n\n\n\n<h2 id=\"how-to-calculate\" data-position=\"2\" data-beam-element-viewed=\"\" data-id=\"br-h2-2-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"How do you calculate mortgage amortization?\" data-outcome=\"\">How do you calculate mortgage amortization?<\/h2>\n\n\n\n\n<p>Bankrate\u2019s <u>amortization calculator<\/u> can help you understand how your payments break down over the life of your mortgage. To use the calculator, you\u2019ll need to input a few details about your mortgage, including:<\/p>\n\n\n\n\n<ul class=\"wp-block-list\">\n<li>Principal loan amount<\/li>\n\n\n\n<li>Loan term (such as 30 years)<\/li>\n\n\n\n<li>Loan start date<\/li>\n\n\n\n<li>Interest rate<\/li>\n\n\n\n<li>The amount and frequency of extra payments, if applicable<\/li>\n<\/ul>\n\n\n\n\n<p>With this information, the calculator can tell you how much principal and interest you\u2019ll pay in any given monthly payment and how much principal and interest you\u2019ll have paid by a specific date.<\/p>\n\n\n\n\n<h3>Mortgage amortization schedule example<\/h3>\n\n\n\n\n<p>Let\u2019s assume you took out a 30-year, fixed-rate mortgage for $400,000 at 6.7%. At those terms, your monthly mortgage payment \u2014 including principal and interest \u2014 would be about $2,581, and the total interest over 30 years would be $529,200.<\/p>\n\n\n\n\n\n<p>Here\u2019s what your loan amortization schedule would look like in the first year of the loan term:<\/p>\n\n\n\n\n<div class=\"w-full overflow-x-auto\"><table class=\"wp-block-table is-style-stripes has-fixed-layout wrapped\"><tbody>\n<tr>\n<td><strong>Date<\/strong><\/td>\n<td><strong>Principal<\/strong><\/td>\n<td><strong>Interest<\/strong><\/td>\n<td><strong>Balance<\/strong><\/td>\n<td><strong><strong>Interest paid to date<\/strong><\/strong><\/td>\n<td><strong>Principal paid to date<\/strong><\/td>\n<\/tr>\n<tr>\n<td>February 2026<\/td>\n<td>$347.78<\/td>\n<td>$2,233.33<\/td>\n<td>$399,652.22<\/td>\n<td>$2,233.33<\/td>\n<td>$347.78<\/td>\n<\/tr>\n<tr>\n<td>March 2026<\/td>\n<td>$349.72<\/td>\n<td>$2,231.39<\/td>\n<td>$399,302.50<\/td>\n<td>$4,464.72<\/td>\n<td>$697.50<\/td>\n<\/tr>\n<tr>\n<td>April 2026<\/td>\n<td>$351.67<\/td>\n<td>$2,229.44<\/td>\n<td>$398,950.83<\/td>\n<td>$6,694.16<\/td>\n<td>$1,049.17<\/td>\n<\/tr>\n<tr>\n<td>May 2026<\/td>\n<td>$353.64<\/td>\n<td>$2,227.48<\/td>\n<td>$398,597.19<\/td>\n<td>$8,921.64<\/td>\n<td>$1,402.81<\/td>\n<\/tr>\n<tr>\n<td>June 2026<\/td>\n<td>$355.61<\/td>\n<td>$2,225.50<\/td>\n<td>$398,241.58<\/td>\n<td>$11,147.14<\/td>\n<td>$1,758.42<\/td>\n<\/tr>\n<tr>\n<td>July 2026<\/td>\n<td>$357.60<\/td>\n<td>$2,223.52<\/td>\n<td>$397,883.98<\/td>\n<td>$13,370.66<\/td>\n<td>$2,116.02<\/td>\n<\/tr>\n<tr>\n<td>August 2026<\/td>\n<td>$359.59<\/td>\n<td>$2,221.52<\/td>\n<td>$397,524.39<\/td>\n<td>$15,592.18<\/td>\n<td>$2,475.61<\/td>\n<\/tr>\n<tr>\n<td>September 2026<\/td>\n<td>$361.60<\/td>\n<td>$2,219.51<\/td>\n<td>$397,162.79<\/td>\n<td>$17,811.69<\/td>\n<td>$2,837.21<\/td>\n<\/tr>\n<tr>\n<td>October 2026<\/td>\n<td>$363.62<\/td>\n<td>$2,217.49<\/td>\n<td>$396,799.17<\/td>\n<td>$20,029.18<\/td>\n<td>$3,200.83<\/td>\n<\/tr>\n<tr>\n<td>November 2026<\/td>\n<td>$365.65<\/td>\n<td>$2,215.46<\/td>\n<td>$396,433.52<\/td>\n<td>$22,244.64<\/td>\n<td>$3,566.48<\/td>\n<\/tr>\n<tr>\n<td>December 2026<\/td>\n<td>$367.69<\/td>\n<td>$2,213.42<\/td>\n<td>$396,065.83<\/td>\n<td>$24,458.06<\/td>\n<td>$3,934.17<\/td>\n<\/tr>\n<\/tbody><\/table><\/div>\n\n\n\n\n<p>Here\u2019s what your amortization schedule would look like in the final year:<\/p>\n\n\n\n\n<div class=\"w-full overflow-x-auto\"><table class=\"wp-block-table is-style-stripes has-fixed-layout wrapped\"><tbody>\n<tr>\n<td><strong>Date<\/strong><\/td>\n<td><strong>Principal<\/strong><\/td>\n<td><strong>Interest<\/strong><\/td>\n<td><strong>Balance<\/strong><\/td>\n<td><strong>Interest paid to date<\/strong><\/td>\n<td><strong>Principal paid to date<\/strong><\/td>\n<\/tr>\n<tr>\n<td>February 2055<\/td>\n<td>$2,400.89<\/td>\n<td>$180.22<\/td>\n<td>$29,877.95<\/td>\n<td>$528,104.9<\/td>\n<td>$370,122.05<\/td>\n<\/tr>\n<tr>\n<td>March 2055<\/td>\n<td>$2,414.29<\/td>\n<td>$166.82<\/td>\n<td>$27,463.66<\/td>\n<td>$528,271.72<\/td>\n<td>$372,536.34<\/td>\n<\/tr>\n<tr>\n<td>April 2055<\/td>\n<td>$2,427.77<\/td>\n<td>$153.34<\/td>\n<td>$25,035.89<\/td>\n<td>$528,425.06<\/td>\n<td>$374,964.11<\/td>\n<\/tr>\n<tr>\n<td>May 2055<\/td>\n<td>$2,441.33<\/td>\n<td>$139.78<\/td>\n<td>$22,594.56<\/td>\n<td>$528,564.84<\/td>\n<td>$377,405.44<\/td>\n<\/tr>\n<tr>\n<td>June 2055<\/td>\n<td>$2,454.96<\/td>\n<td>$126.15<\/td>\n<td>$20,139.60<\/td>\n<td>$528,690.99<\/td>\n<td>$379,860.40<\/td>\n<\/tr>\n<tr>\n<td>July 2055<\/td>\n<td>$2,468.67<\/td>\n<td>$112.45<\/td>\n<td>$17,670.94<\/td>\n<td>$528,803.44<\/td>\n<td>$382,329.06<\/td>\n<\/tr>\n<tr>\n<td>August 2055<\/td>\n<td>$2,482.45<\/td>\n<td>$98.66<\/td>\n<td>$15,188.49<\/td>\n<td>$528,902.10<\/td>\n<td>$384,811.51<\/td>\n<\/tr>\n<tr>\n<td>September 2055<\/td>\n<td>$2,496.31<\/td>\n<td>$84.80<\/td>\n<td>$12,692.18<\/td>\n<td>$528,986.91<\/td>\n<td>$387,307.82<\/td>\n<\/tr>\n<tr>\n<td>October 2055<\/td>\n<td>$2,510.25<\/td>\n<td>$70.86<\/td>\n<td>$10,181.93<\/td>\n<td>$529,057.77<\/td>\n<td>$389,818.07<\/td>\n<\/tr>\n<tr>\n<td>November 2055<\/td>\n<td>$2,524.26<\/td>\n<td>$56.85<\/td>\n<td>$7,657.67<\/td>\n<td>$529,114.62<\/td>\n<td>$392,342.33<\/td>\n<\/tr>\n<tr>\n<td>December 2055<\/td>\n<td>$2,538.36<\/td>\n<td>$42.76<\/td>\n<td>$5,119.31<\/td>\n<td>$529,157.37<\/td>\n<td>$394,880.69<\/td>\n<\/tr>\n<tr>\n<td>January 2056<\/td>\n<td>$2,552.53<\/td>\n<td>$28.58<\/td>\n<td>$2,566.78<\/td>\n<td>$529,185.96<\/td>\n<td>$397,433.22<\/td>\n<\/tr>\n<tr>\n<td>February 2056<\/td>\n<td>$2,566.78<\/td>\n<td>$14.33<\/td>\n<td>$0.00<\/td>\n<td>$529,200.29<\/td>\n<td>$400,000<\/td>\n<\/tr>\n<\/tbody><\/table><\/div>\n\n\n\n\n<p>This example illustrates how the amount of your payment that applies toward the principal increases the longer you pay off your mortgage loan, while the amount applied to interest decreases.<\/p>\n\n\n\n\n<h2 id=\"what-to-know\" data-position=\"3\" data-beam-element-viewed=\"\" data-id=\"br-h2-3-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"What you should know about amortization before borrowing\" data-outcome=\"\"><strong>What you should know about amortization before borrowing<\/strong><\/h2>\n\n\n\n\n<p>When it comes to a mortgage, most buyers choose a 30-year loan without much thought. But there are cases when the default loan term and amortization schedule might not be the best fit, especially if you\u2019re making a low down payment and don\u2019t plan to stay in the home for long.<\/p>\n\n\n\n\n\n<p>\u201cSay, for example, you purchased a starter home intending to live in it for only five years before upgrading to a larger house,\u201d says Nishank Khanna, co-founder and CEO of Demand Roll in New York City. \u201cYou expect to make a profit when you sell, but you find out that you owe more than the value of the house. That\u2019s because of your chosen amortization schedule and a slight depreciation [in the] home\u2019s value. In this scenario, you opted for a 30-year mortgage over a 15-year loan, and most of your payments went toward interest rather than the principal balance.\u201d<\/p>\n\n\n\n\n\n<p>On the other hand, borrowers sometimes overthink the amount of interest they\u2019ll pay over the life of the loan, says Bankrate housing analyst Jeff Ostrowski.<\/p>\n\n\n\n<div class=\"BlockQuote pb-8 BlockQuote--bordered flex flex-col items-center text-center md:text-left md:flex-row gap-3 md:gap-8 mb-8 md:mb-0\">\n            \n        <blockquote class=\"BlockQuote-text text-center md:text-left\">\n        <q>Those numbers \u2014 tens of thousands, even hundreds of thousands in interest \u2014 look daunting. But for most Americans, paying mortgage interest is a financially sound way to achieve homeownership.<\/q>\n                    <cite class=\"PullQuote-cite text-gray-900 ml-0 md:ml-4\">\n                \u2014 Jeff Ostrowski, Bankrate housing analyst\n            <\/cite>\n            <\/blockquote>\n<\/div>\n\n\n\n\n<p>Understanding your amortization schedule can also help you choose a strategy for prepaying your mortgage. If you can afford to make extra payments on your mortgage, you\u2019ll lower your principal balance more quickly and reduce the amount of interest you pay on your loan.<\/p>\n\n\n\n<div class=\"TipBox flex sm:items-center gap-6 sm:gap-7 md:gap-8 mx-2 sm:mx-8 mb-8\">\n    <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"TipBox-icon Icon icon-offset-blue-200 text-gray-900 icon-highlight-blue-600 mt-4 sm:-mt-4 md:-mt-1\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Savings Icon<\/title>\n<path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M12 20.985h.183l-.006.015a6.597 6.597 0 0 0 3.96-1.346c.161-.123.317-.252.468-.389A6.81 6.81 0 0 0 19 14.086c0-3.706-2.986-6.728-6.724-6.873a6.191 6.191 0 0 0-1.721.134L9.338 6.263a1.01 1.01 0 0 0-1.074-.182 1.122 1.122 0 0 0-.453.364 1.18 1.18 0 0 0-.223.575L7.4 8.894a6.888 6.888 0 0 0-1.998 2.864h-.86c-.298 0-.541.262-.541.582v3.828c0 .32.585 0 .882 0l1.046 1.36a6.99 6.99 0 0 0 3.162 2.82c.919.435 1.917.65 2.91.637Z\" fill=\"transparent\" class=\"icon-offset\"\/><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M10.63 8.72a5.942 5.942 0 0 0 6.167 5.93 6.597 6.597 0 0 1-2.317 2.927 6.603 6.603 0 0 1-3.956 1.179 6.647 6.647 0 0 1-3.394-.86 6.705 6.705 0 0 1-2.495-2.45.604.604 0 0 0-.525-.304H2.717v-3.6h.875a.605.605 0 0 0 .579-.418A5.927 5.927 0 0 1 6.263 8.21a.616.616 0 0 0 .244-.426l.235-2.267L8.348 6.84c.152.122.357.175.548.122a6.188 6.188 0 0 1 2.053-.16 5.908 5.908 0 0 0-.319 1.917Zm.867-3.084a7.796 7.796 0 0 0-2.617.079L7.51 4.58a1.206 1.206 0 0 0-1.72.19c-.136.168-.22.373-.25.601l-.22 2.032a7.07 7.07 0 0 0-2.154 2.922H2.11a.61.61 0 0 0-.609.608v4.817a.61.61 0 0 0 .609.608h1.658a7.874 7.874 0 0 0 1.885 2.02l-.516 2.073a.606.606 0 0 0 .442.738c.045.016.099.016.144.016v.007c.274 0 .525-.19.594-.464l.418-1.683a7.906 7.906 0 0 0 3.775.907h.205l.008.008a7.815 7.815 0 0 0 3.626-.9l.414 1.66c.076.282.32.465.593.465v-.008c.046 0 .1 0 .145-.015a.606.606 0 0 0 .441-.738l-.512-2.054a7.843 7.843 0 0 0 2.658-3.72.602.602 0 0 0 .03-.222A5.947 5.947 0 0 0 22.5 8.72a5.942 5.942 0 0 0-5.935-5.934 5.938 5.938 0 0 0-5.068 2.85Zm.35 3.084a4.721 4.721 0 0 1 4.718-4.717 4.721 4.721 0 0 1 4.718 4.717 4.721 4.721 0 0 1-4.718 4.718 4.721 4.721 0 0 1-4.717-4.718ZM7.534 11.27a.916.916 0 0 1-.913-.913c0-.502.411-.913.914-.913v.008c.502 0 .912.41.912.913 0 .502-.41.913-.913.913v-.008Zm7.784.206h.64v.289a.61.61 0 0 0 .608.608.61.61 0 0 0 .609-.608v-.29c.843-.03 1.521-.772 1.521-1.681 0-.928-.707-1.682-1.575-1.682h-1.103c-.19 0-.357-.213-.357-.464 0-.25.16-.464.357-.464h.453a.606.606 0 0 0 .19 0h1.16a.61.61 0 0 0 .61-.609.61.61 0 0 0-.61-.608h-.646v-.29a.61.61 0 0 0-.609-.608.61.61 0 0 0-.609.609v.29c-.839.034-1.514.774-1.514 1.68 0 .929.708 1.682 1.575 1.682h1.104c.19 0 .357.213.357.464s-.16.464-.358.464H15.317a.61.61 0 0 0-.608.609.61.61 0 0 0 .608.609Z\" class=\"icon-base\"\/><\/svg>    <p class=\"w-full mb-0\">\n        <strong class=\"font-bold\">\n            Money tip:\n        <\/strong>\n        Let\u2019s say you have a $200,000, 30-year loan with a 6.5% interest rate. By making an extra $100 payment each month, you would save $55,944 in interest over the life of your mortgage. You\u2019d also pay off your loan five years and seven months earlier than if you didn\u2019t make the extra payment.\n    <\/p>\n\n<\/div>\n\n\n\n<h2 id=\"faq\" data-position=\"4\" data-beam-element-viewed=\"\" data-id=\"br-h2-4-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Frequently asked questions\" data-outcome=\"\">Frequently asked questions<\/h2>\n\n\n<ul class=\"Accordion w-full align\">\n    <li x-id=\"['panel-accordion-item-0', 'heading-accordion-item-0']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-accordion-item-0')\" :aria-controls=\"$id('panel-accordion-item-0')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    How does refinancing affect mortgage amortization?\n    <\/h3>\n<!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Caret Down Icon<\/title>\n<path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/svg><\/span><\/button><div class=\"Accordion-contentWrapper\" :id=\"$id('panel-accordion-item-0')\" :aria-labelledby=\"$id('heading-accordion-item-0')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\"><div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n\n\n\n\n<p>Refinancing can be a great way to secure a lower interest rate or more favorable loan terms. But when you refinance, you\u2019re replacing your current mortgage with a new one. Doing so can reset the timeline for fully repaying your mortgage, as well as the loan amortization schedule. If you choose to start over with a 30-year loan, you\u2019ll find that a larger portion of each monthly mortgage payment goes toward interest once again.<\/p>\n\n<\/div><\/div>\n<\/li>\n                                                                <li x-id=\"['panel-accordion-item-1', 'heading-accordion-item-1']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-accordion-item-1')\" :aria-controls=\"$id('panel-accordion-item-1')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    How does mortgage amortization affect home equity?\n    <\/h3>\n<!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Caret Down Icon<\/title>\n<path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/svg><\/span><\/button><div class=\"Accordion-contentWrapper\" :id=\"$id('panel-accordion-item-1')\" :aria-labelledby=\"$id('heading-accordion-item-1')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\"><div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n\n\n\n\n<p>When you first get a mortgage, a larger percentage of each monthly payment goes toward interest rather than toward repaying the principal. As a result, amortization slows the process of building equity in your home.<!-- \/wp:post-content --><\/p>\n\n<\/div><\/div>\n<\/li>\n                                                                <li x-id=\"['panel-accordion-item-2', 'heading-accordion-item-2']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-accordion-item-2')\" :aria-controls=\"$id('panel-accordion-item-2')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    What is negative amortization?\n    <\/h3>\n<!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Caret Down Icon<\/title>\n<path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/svg><\/span><\/button><div class=\"Accordion-contentWrapper\" :id=\"$id('panel-accordion-item-2')\" :aria-labelledby=\"$id('heading-accordion-item-2')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\"><div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n\n\n\n\n<p>Negative amortization happens when the payments you\u2019re making don\u2019t cover the interest on the loan, and your balance grows instead of shrinks. This might be the case if your lender allows you to make interest-only payments.<\/p>\n\n\n<p>Over time, if the amount you owe ends up exceeding the value of your home, you\u2019ll be \u201cunderwater\u201d on the property, making it more difficult to sell and use those proceeds to repay the mortgage.<br\/><!-- \/wp:paragraph --><\/p>\n\n<\/div><\/div>\n<\/li>\n<\/ul>\n            \n\n        <div class=\"HelpfulCTA mx-auto flex flex-col items-center gap-6 my-6 py-12 text-base border-y border-gray-200\" data-helpful-cta=\"\" data-beam-element-viewed=\"\" id=\"did-you-find-this-helpful\" data-type=\"cta\" data-location=\"article-bottom\" data-position=\"banner\" data-text=\"Did you find this page helpful?\">\n    <div class=\"HelpfulCTA-initial w-full flex flex-col items-center gap-4\" data-cta-initial=\"\">\n        <div class=\"HelpfulCTA-question text-lg font-bold text-center text-gray-900\">\n            Did you find this page helpful?\n            <div id=\"JKzywsil1i\" class=\"hidden\">\n        <div class=\"wysiwyg wysiwyg--sm wysiwyg--flush max-w-xs\">\n                        <p class=\"mb-6 text-base\">\n                            <strong class=\"block font-bold text-gray-900\">Why we ask for feedback<\/strong>\n                            Your feedback helps us improve our content and services. 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0-.344-.085c-.151-.022-.313-.01-.625-.022H7.503Zm11.596.001c-.625 0-1.077 0-1.228.076a.72.72 0 0 0-.323.322c-.075.15-.075.603-.075 1.226v7.68c0 .623 0 1.075.075 1.226.075.14.183.247.323.322.15.075.603.075 1.228.075h.16c.625 0 1.078 0 1.228-.075a.778.778 0 0 0 .324-.322c.075-.151.075-.603.075-1.227V5.423c0-.623 0-1.076-.075-1.226a.722.722 0 0 0-.324-.322c-.15-.076-.603-.076-1.227-.076h-.161Z\" class=\"icon-base\"\/><\/svg><\/span> <span class=\"text-base leading-4\">No<\/span>\n            <\/button>\n        <\/div>\n    <\/div>\n    <!-- Yes Form -->\n    \n    <!-- No Form -->\n    \n    <div class=\"HelpfulCTA-thankyou flex flex-col items-center gap-2\" data-cta-thankyou=\"\" style=\"display:none;\">\n        \n        <p>Thank you for your\n            feedback!<\/p>\n        <p>Your input helps us improve our\n            content and services.<\/p>\n    <\/div>\n<\/div>\n\n    <\/div>\r\n<br>Read the full article <a href=\"https:\/\/www.bankrate.com\/mortgages\/what-is-mortgage-amortization\/\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><!-- \/wp:freeform -->","protected":false},"excerpt":{"rendered":"<p>Key takeaways Mortgage loan amortization refers to how you repay your mortgage balance over the loan term. At the beginning of your loan term, more of your payment goes toward interest, but this reverses closer to the end of the term. You can use your amortization schedule to find the best repayment strategy for your<\/p>\n","protected":false},"author":1,"featured_media":28598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"class_list":{"0":"post-28597","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mortgage"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Is Mortgage Amortization? | Bankrate - FundsPaid2U<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fundspaid2u.com\/?p=28597\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Is Mortgage Amortization? | Bankrate - FundsPaid2U\" \/>\n<meta property=\"og:description\" content=\"Key takeaways Mortgage loan amortization refers to how you repay your mortgage balance over the loan term. 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