Terms And Phrases To Learn Before House Hunting

- By
real estate terms to know

Source: krisanapong detraphiphat / Getty

Amortization

There are several types of mortgages you can take on, but an amortized one combines interest and payment from the start. This means you pay off part of the property’s value, from the beginning, helping you build equity quicker. This is different from an interest-only loan, in which you would only be paying off interest for the first X amount of years, taking longer to build equity.

TRENDING ON MADAMENOIRE
Comment Disclaimer: Comments that contain profane or derogatory language, video links or exceed 200 words will require approval by a moderator before appearing in the comment section. XOXO-MN