MERIX Financial - Mortgage terminology can be unclear so here is a breakdown of two common terms. It is important to understand what a term and amortization are because your payment amount
![Amortization schedule financial definition of amortization schedule | Amortization schedule, Mortgage amortization, Schedule templates Amortization schedule financial definition of amortization schedule | Amortization schedule, Mortgage amortization, Schedule templates](https://i.pinimg.com/736x/e7/bc/9f/e7bc9f8a747eb54b215d00c98471468b.jpg)
Amortization schedule financial definition of amortization schedule | Amortization schedule, Mortgage amortization, Schedule templates
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![MERIX Financial on Twitter: "Although they both refer to key time periods, #mortgageterm and #amortization are not the same. Outlined below are the key differences. For more information, consult your broker! https://t.co/I9LNXt43Ig" / MERIX Financial on Twitter: "Although they both refer to key time periods, #mortgageterm and #amortization are not the same. Outlined below are the key differences. For more information, consult your broker! https://t.co/I9LNXt43Ig" /](https://pbs.twimg.com/media/E-ScsL6XEAEY21-.jpg)
MERIX Financial on Twitter: "Although they both refer to key time periods, #mortgageterm and #amortization are not the same. Outlined below are the key differences. For more information, consult your broker! https://t.co/I9LNXt43Ig" /
![Amortization: what it means, when it's used, and how to use Lyons' Payment Schedule Calculator - Lyons Mortgage Services, Inc. Amortization: what it means, when it's used, and how to use Lyons' Payment Schedule Calculator - Lyons Mortgage Services, Inc.](https://www.elyons.com/wp-content/uploads/2021/04/Payment-Calculator-Screenshot.png)