The outstanding loan balance at any given time during the term of a loan can be calculated by finding the present value of the remaining payments at the given interest rate. (en.wikipedia.org)
Look for the following information in the ad, or ask the lender these questions: * Will the interest rate or the monthly payments change during the term of the loan? (mortgage-x.com)
While amortization periods are typically used to get a better idea of what interest you will pay during the term of a loan it's also an important benchmark for lenders. (moneysense.ca)