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Fully Amortizing Mortgage

A fully amortizing mortgage is a loan in which both principal and interest are paid fully through scheduled installments by the end of the loan term. A fully amortizing payment is the calculated amount that the borrower is required to pay each month to ensure that remaining balance is paid by the end of the loan’s term.

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According to interest rates published on July 31, 2020, on FreddieMac.com.