Amortization is the process of systematically paying down a loan balance over time through periodic payments that cover interest and principal, according to an amortization schedule.
Installment refers to a single periodic payment, not the full process.
Loan is the debt itself.
Mortgage is the security instrument (lien) that pledges property as collateral for the loan.
References (Maryland Pre-Licensing Core Content):
Maryland 60-Hour Course: “Real Estate Financing” (amortization schedules; principal vs. interest; fully vs. partially amortized loans).
Basic finance terminology as standardized across pre-licensing materials.
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