Term Mortgages and Amortized Level-Payment Mortgages

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Education & Training with Rowlett Real Estate School LLC

 With a Term Mortgage buyers pay the interest only until the full term of the mortgage expires. 

Then they pay all the principal or refinance the loan. A term mortgage is a non-amortizing loan.

Term mortgages are used for short term financing such as for construction loans.

 

The most popular loan payment plan is the fully amortized level-payment mortgage. A fully amortized mortgage is one with regular payments each month of principal and interest.  Amortize mean to end or extinguish. The amortized  mortgage loan is gradually extinguished by payment. 

·    The payment remains the same each month.  It is a (level payment plan)

With each months payment the amount that is applied toward the principal increases and the amount applied to the interest decreases.

Information courtesy of Rowlett Real Estate School LLC
Call Captain Wayne Rowlett for information on Real Estate Training, or visit our website at
http://www.rowlettrealestateschool.com

 

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Rowlett Real Estate School

Rowlett Real Estate School


For infomation on Rowlett Real Estate School and our classes in Panama City, Fort Walton, Pensacola and Destin, visit our website at www.rowlettrealestateschool.com .  Or give Captain Wayne a call at 850-547-1333

Rowlett Real Estate School is a full service Florida Real Estate School offering classroom training in Panama Ctiy Beach Florida and Destin Florida, Fort Walton Beach and Pensacola.  We offer a full line up of courses online and in classroom for all your Sales Associate and Broker real estate license requirements.
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