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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Amortization

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Amortization

Amortization refers to the total value of the mortgage payment over and above any interest that is payable. Therefore, the amortization figure will be reduced by the amount paid and any other extra payments that have been made during the life of the loan.

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