Amortize method
How we research
In one paragraph
The method behind Amortize is simple to state: find the governing document, quote it accurately, explain it plainly and link it. CFPB amortization guidance and IRS mortgage-interest publications are the main references for payment math here, and they are rechecked first.
Last reviewed against the primary sources listed below.
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Sources we rely on
Pages cite these primary sources, among others. Each guide lists the exact sources it used at the bottom of the page.
- CFPB: What is amortization? (explained with an auto loan example)
- CFPB: What is a prepayment penalty?
- CFPB: Closing Disclosure explainer
- CFPB: Loan Estimate explainer
- CFPB: Help for homeowners behind on payments
- IRS Publication 936: Home Mortgage Interest Deduction
- IRS: About Form 1098, Mortgage Interest Statement
- HUD: Find a HUD-approved housing counselor
How a page is checked
- Each rule is checked against the current version of its source document.
- Plain-language wording is compared back to the source so meaning is not lost.
- A page shows a new review date only after it has been rechecked.
Pages written this way
- How is mortgage interest calculated monthly? The formula
- Is mortgage interest paid in arrears? How it works
- Extra principal payments: what changes and how much to pay
- Biweekly mortgage payment plans examined
- Recast mortgage vs refinance: which one changes your payment
- Mortgage interest and taxes: Form 1098 and IRS Publication 936
- Do mortgages have prepayment penalties?
- Why your mortgage payoff amount is higher than your balance
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Primary sources
- CFPB: What is amortization? (explained with an auto loan example)
- CFPB: What is a prepayment penalty?
- CFPB: Closing Disclosure explainer
- CFPB: Loan Estimate explainer
- CFPB: Help for homeowners behind on payments
- IRS Publication 936: Home Mortgage Interest Deduction
- IRS: About Form 1098, Mortgage Interest Statement
- HUD: Find a HUD-approved housing counselor