Читать книгу Complete Home Buyer's Guide For Canada - Geraldine Santiago - Страница 16

Typically, the size of a mortgage loan payment is calculated as if the loan payments were going to be paid over a period of 20 to 25 years. This is called the amortization period. Each payment will repay the interest due up to the payment date along with some of the principal owed. The longer the amortization period you choose, the lower the regular payment will be. Remember, however, that the faster you repay any money borrowed by choosing a shorter amortization period, the more you reduce the total cost of borrowing.