The amortization schedule of your mortgage loan shows how much of your payment will be applied towards principal and how much will be applied towards interest in each month of your loan term. In the early months of your loan a large percentage of the payment will go towards interest, and as you get closer to paying off the loan more and more of the payment will go to paying down the loan balance.If you make extra payments, miss or are late with payments, or if the rate on your loan adjusts (with an adjustable rate mortgage) your amortization schedule may change.
You may receive an amortization schedule as part of your mortgage application or closing paperwork. If you do not and you would like to see the amortization for your loan, ask your mortgage representative.
Please note: The content on AFRMortgage.com is for informational purposes only. It is not a substitute for the advice of a mortgage professional, real estate agent, attorney, tax advisor, or other professional.
Because the interest paid on the loan must be factored into the monthly payment, it is not as simple as dividing the loan amount by the number of months in the loan term. The simplest way to determine a monthly payment for a mortgage of a certain amount is to use a mortgage calculator like 
In the unfortunate event of a divorce between married homeowners, part of the divorce proceedings will involve determining what should happen to the property the couple owned together, including their home if applicable. Some of the options include selling the home and dividing the proceeds, one party keeping the home and 
