The two main types of amortization schedules are fixed-rate and adjustable-rate. Fixed-rate amortization schedules are the most common and involve a fixed interest rate for the entire loan term. This means that the interest rate and monthly payments remain the same throughout the life of the loan. Adjustable-rate amortization schedules, on the other hand, involve an interest rate that can change over time. This type of amortization schedule is typically used for commercial real estate loans, and the interest rate is usually tied to an index such as the LIBOR or Prime Rate. The interest rate and monthly payments can change over time, depending on the index rate.
Source: Apartment.loans