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Bank Insider:  If you are considering buying a house, you will have to figure out, first, how much you can spend? If you are not buying the house straight out with cash, then you will need to seek a mortgage. Most mortgages are amortized loans, meaning they are made up of payments that go toward reducing the principal as well as paying off interest. Read below for more information on amortized loans-the most popular variety of mortgages these days. What is amortization? Amortization is paying off a predetermined amount (principal) plus interest over a fixed period of time. At the end o...