Mortgage Amortization is the gradual reduction of debt over a period of time…for a 30-year fixed mortgage, the given period of time is 360 months. In the 55th episode of the Martini Mortgage Podcast, Kevin Martini discusses mortgage amortization and shares how to get mortgage-free faster.
With a fixed rate mortgage term, your mortgage payment remains constant however distribution of principal and interest is different every month. In the beginning of your loan a disproportioned amount of your fixed payment goes towards interest and later in the loan it is inverted hence, more principal is retired.
Raleigh, NC Mortgage Strategists Kevin Martini shares how to make a 30-year mortgage a 20-year in this episode and how to make a 30-year mortgage a 15-year mortgage too.
If you or someone you know has questions about getting a mortgage or about the current mortgage rate environment, call Kevin Martini with the Martini Mortgage Group at Benchmark Mortgage.
OH BY THE WAY…if you are in Instagram, check out @KevinMartinLive
Kevin Martini | NMLS ID 143962 | Senior Mortgage Strategist & Branch Manager | Martini Mortgage Group at Benchmark Mortgage | Ark-La-Tex Financial Services, LLC NMLS ID 2143 | 223 S West Street, Suite 900 Raleigh, NC 27603 | (919) 238-4934 | www.KevinMartini.com | Kevin@KevinMartini.com | Equal Housing Opportunity