This is called an amortization schedule, and it is typically designed in such a way that your last payment pays off your loan down to the penny. How does this impact the life of your loan?

Mid America Mortgage, Inc.
This is called an amortization schedule, and it is typically designed in such a way that your last payment pays off your loan down to the penny. How does this impact the life of your loan?
If you are purchasing a house for the first time, you are probably excited to imagine what your life might look like in a bunch of different houses. At the same time, the process can be a bit overwhelming.
Last week’s economic reporting included readings from the National Association of Home Builders on national and regional U.S. housing markets. The National Association of Realtors(R) reported on sales of previously-owned homes, and the Commerce Department released readings on building permits issued and housing starts. Weekly readings on mortgage rates and jobless claims were also released.
If your financial situation has changed, you might be interested in refinancing your mortgage. In general, refinancing means that you will replace your current mortgage with a new one.
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