Amortized Loans 
Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority and you can order it here)

Home mortgages calling for the payment by the borrower of monthly (usually) or quarterly or semi-annual payments, in equal amounts.  Included in the uniform monthly periodic payment will be the portion allocated to repayment of the principal, the remainder being interest on the remaining un-amortized principal amount for the period involved.  Besides use in AMORTIZATION LOANS on farm mortgages, the amortized loan has become practically universal on urban real estate mortgage loans, particularly as the result of popularization by the savings and loan associations.

Long-term, high ratio of appraised value, amortized loans were also stimulated by operations of the FEDERAL HOUSING ADMINISTRATION (FHA) under Title II, Section 203 (b) of the National Housing Act, 1934, as amended, in providing insurance of mortgages on one-four-family homes and by guarantee by the Veterans Administration of a portion of home mortgage loans to veterans under the Servicemen’s Readjustment Act of 1944 (GI Bill of Rights).

TERM LOANS to business firms are amortized loans.  Pursuant to the term loan agreement, periodic payments provide for amortization on principal as well as current interest, the amortization schedule being fitted to projected cash flow from operations of the borrower firm.

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