WHAT IS AN AMORTIZATION PERIOD?
The amortization period of a mortgage agreement is the length of time that it will take the borrower to pay off the balance of the mortgage if they continue making monthly payments. The amortization period takes into consideration the interest rate for the current mortgage term.
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About the Author:
Shahriar Jahanshahi is the founder and principal lawyer at Jahanshahi Law Firm with a practice focus on representing business star-ups and investors in the province of Ontario. For further information about Shahriar Jahanshahi, click here.