Glossary of Personal Financial Terms. Amortization – the payment time frame of that loan or debt / the true period of time over which you’ll repay the mortgage or debt.
Loan – a sum of money lent at an interest rate that is specified.
Mortgage Loan – a loan acquired by utilizing estate that is real protection your money can buy borrowed. Most Canadians finance the acquisition of a mortgage to their home simply because they don’t can pay for to get their house outright. Mortgages are offered by banking institutions, credit unions, finance companies and private loan providers. (more…)
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Glossary of Personal Financial Terms. Amortization – the payment time frame of that loan or debt / the true period of time over which you’ll repay the mortgage or debt.