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What is amortization?

Amortization Period
 
An Amortization Period is the time over which equal payments and an unchanged interest rate would bring the balance of the mortgage or loan to zero.
When you apply for a mortgage/loan, your amortization period is set at that time. For mortgages or the TD Home Equity FlexLine Term Portion, the normal amortization is 25 years. However, the maximum amortization period available may be up to 30 years.
To obtain an amortization schedule for your mortgage or the TD Home Equity FlexLine Term Portion, please visit your TD Canada Trust branch

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