The amortization period is the time period used by lenders and banks to measure the time it will take to pay a mortgage in full. The amortization period is not the term of the mortgage. A mortgage term can range between 6 months to 10 years, whereas an amortization period can range between 0 years (interest only) to 35 years.

High ratio mortgages are commonly amortized over a 25 year period. Conventional mortgages have the option to amortize for a 30 year period.

The longer the amortization period is, the longer it will take to pay the mortgage in full. The longer the amortization period is, the more interest is accrued during the lifetime of the mortgage.