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TeachMeFinance.com Amortization: -- repayment of a mortgage loan through monthly installments of principal and interest; the monthly payment amount is based on a schedule that will allow you to own your home at the end of a specific time period (for example, 15 or 30 years) another definition... Amortization -- A repayment method in which the amount you borrow is repaid gradually though regular monthly payments of principal and interest over the term of the loan. another definition... amortization -- the repayment of a loan calculated so that the principal will be paid in full through monthly payments of principal and interest for a predetermined period of time. Many home mortgages are fully amortized in 15, 20 or 30 years. another definition... Amortization -- 1. The provision to pay a debt over a period of time. 2. The gradual repayment of borrowings in a series of installments. 3. A transaction or security where the principal reduces over the life of the agreement. 4. The writing off or reduction in value of an intangible asset over time (c.f.depreciation) 5. Allocation of the cost of an asset over its estimated useful life. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.