Understanding French Amortization
If you have a mortgage, chances are you use the French Amortization System. In this system, you pay more interest at the beginning and more principal at the end.
How does it affect you?
At the beginning of the loan's life, most of your monthly installment goes toward paying interest to the bank. Understanding the amortization schedule allows you to know when is the best time to make an early repayment and save thousands of euros.
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With the Mortgage Simulator in Totem Finance, you can view the amortization schedule year by year and understand exactly how much interest you are really paying.
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