A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- PrincipalThe original amount of money you borrow, separate from the interest and fees that get added on top of it.
- Loan TermThe length of time you have to repay a loan in full, which affects both your monthly payment and total interest paid.
- Installment LoanA loan repaid in fixed, scheduled payments over a set term, such as an auto loan, student loan, or personal loan.
- MortgageA loan used to buy a home, where the property itself acts as collateral the lender can take if you stop paying.
- Extra PaymentA payment beyond your required amount that goes toward principal, cutting the total interest and time to pay off a loan.
- Interest RateThe percentage a lender charges you to borrow money, or pays you to keep money deposited, over a set period.
Turn this into a brick
Knowing what Amortization means is knowledge — the first half. A brick gets placed when you act on it.
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Plain-English education — not personalized legal, tax, or investment advice.