Over time, you will repay your mortgage through regular monthly payments
of principal and interest. During the first few years, most of your
payments will be applied toward the interest you owe. During the final
years of your loan, your payment amounts will be applied primarily to
the remaining principal. This type of repayment method is called amortization.
For more information about the amortization for your Paterson, New Jersey
home contact our Paterson mortgage brokers.