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Repayment Mortgages (amortization)
By Jeremy Maddock, Thu Dec 8th

Qute simply, a repayment mortgage is an arrangement where theultimate goal is to pay off the mortgage on a property. This isthe most common type of payment agreement for both business andhomemorgages, as it gives the borrower the knowledge that theyare working towards an end goal.

Most repayment mortgages involve the setting of a fixed futuredate when the loan will be paid off (although this can often bechanged later via morgagerefinancing).

The most common term for these types of in theUS, Canada, and the UK is in the range of 20 to 30 years,depending on the buyer's financial situation and prevailing morgagerates at the time.

About the author:Jeremy Maddock is the webmaster of FinanceFacts.info, a usefulsource of financearticles.