December 16, 2019

Mortgage loan repayment – Read how it works with mortgage loan repayment

When taking out a mortgage, it is important to consider how you intend to do with the mortgage repayment. The repayment is the amount you repay on the loan itself. That is, what you pay at any time minus the interest rate, so after each repayment, the total loan decreases. You basically have three different types of amortization to choose from. Mortgage-free mortgage   If you have a loan that is free of interest, it means that you always pay only the interest rate. Then, of course, at some point in the future you will have to repay the loan, but that is later in the future. The advantage of…