Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago, 01/01/2019

User Stats

72
Posts
19
Votes
Andrew Michaud
  • Bangor, ME
19
Votes |
72
Posts

15 year Term, 20 year Amortization. Define Amortization?

Andrew Michaud
  • Bangor, ME
Posted

I have been approved on a loan for 15 Yr, 20 Yr Amortization. What does this mean? 

Am I paying off the loan in 15 years or 20 years?

Am I paying off the interest in 15 years and paying off the rest of the principal from year 15 to 20?

Have done some research but still cannot figure this one out. 

Loading replies...