Kiritsis & Associates


What is amortization? Kiritsis Law Group 212 922 0005

May 13, 2021

By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

It refers to a mortgage payment process, where there is a periodic pay down of a loan principal. Generally, in real estate transactions involving lending, the distribution of loan repayments into several installments of cash flows, is often determined by an amortization table. If a loan is fully amortized, then the last payment would pay off the remaining loan principle and interest. Unlike accounting and tax rules where amortization is associated with intangible assets in the real estate industry, and most of property law, the term of amortization, generally refers to loans involving real estate. Amortization is relatively easier to calculate in the age of the internet; however, emphasis should be placed on the word “relatively”, because you need to know which numbers to plug at which box, and there is some truth to the proverb of “don’t trust everything you read on the internet”. On a lighter note: the word “amortization” is not derived from the root “amor’ which often refers to love; rather it is derived from old French, and it means “to kill off” (killing off the mortgage payments that is).


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