Amortization is the ways financing payments try used on particular sizes of money Meaning and you may Types of Amortization Generally speaking, this new monthly payment continues to be the same, and it is divided one of attention costs (exacltly what the bank becomes purchased the borrowed funds), cutting your financing equilibrium (also known as “paying down the mortgage dominating”), or other costs for example property fees. Their history financing fee will pay from the final number kept on your