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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

Self-amortizing mortgage  

Definition 1.

Mortgage whose entire principal is paid off in a specified period of time with regular interest and principal payments.
 

Definition 2.

A mortgage in which all principal is paid off in a specified period of time (often 15 or 30 years) through regular principal and interest payments. The advantage of such a mortgage is that the home-owner is not left with a large lump-sum at the end of the mortgage period. The disadvantage is that periodic payments are higher than if the mortgage simply covered the interest.
 
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