Loan Amortization Calculator

An amortization schedule reveals the specific dollar amount put towards interest, as well as the specific put towards the Principal balance, with each payment. Initially, a large portion of each payment is devoted to interest. As the loan matures, larger portions go towards paying down the principal. The first payment is assumed to take place one full payment period [one month] after the loan was taken out, not on the first day of the loan. The last payment completely pays off the remainder of the loan, often the last payment will be a slightly different amount than all earlier payments. In addition to breaking down each payment into interest and principal portions, the amortization schedule also reveals interest-paid-to-date, principal-paid-to-date, and the remaining principal balance on each payment date.

There are a few crucial points worth noting when obtaining a mortgage for a home with an amortized loan. First, there is substantial allocation of the monthly payments toward the interest, especially during the first years of the mortgage. You will notice that the first payment allocates about 90% of the total payment towards interest and only about 10% toward the principal balance. Not until much later payments into the loan does the payment allocation towards principal and interest even out and subsequently tip the majority of the monthly payment toward Principal balance pay down.

One of a kind Caribbean 125’ Beachfront house on 41,829 feet of land!

Pristine white talcum powder sandy beaches, one of the nicest beaches in the Caribbean. Approximately 750 feet of retaining walls were back-filled; the land was leveled and raised six feet high to prevent flooding from tide surges.

Total 2,800 sq. ft. home, huge garage, carport and covered deck. Completely turnkey 2 bed/1 bath house includes: quality designer “comfortable” furnishings, diagonally laid Porcelain tile flooring throughout, Cypress V-Joint honey stained soaring ceilings throughout, including canned ceiling lights and over-sized Mahogany wood blade fans in each room.

55 Smart Samsung flat screen Television and Samsung DVD Blue-Ray player with Marine Quality indoor/outdoor (salt water resistant) surround sound speakers system. Stainless steel appliances are GE Profile, Energy Star rated. Stacked Washer/Dryer are Frigidaire, Energy Star rated. Air Condition unit is a Fujitsu split ductless air conditioning system with individual ceiling units in each bedroom.

Rheem Heat-Pump, Hot water heater, which uses up 60% less energy than standard heaters. (Everything in this home is designed with the consideration of Energy Efficiency!) Aluminum Standing Seam Roof, made in the USA, 25 years guaranteed in salt water climates, Gutters are aluminum heavy duty commercial grade and hurricane proof. All windows and doors are Dade County PGT Hurricane Impact! and are over sized for maximum light and VIEW exposure!

A large 2-car, fiberglass insulation garage 10 x 10 doors, and will accommodate a 30' boat. 2005 Dodge Dakota 4 door, 4 Wheel Drive in excellent condition and low miles also included.

The house is wired with a 400 amp service, in the event a buyer should want to build additional structures on this land.

Barefoot Bay has city water: NO CISTERN WATER SYSTEM NEEDED! Underground telephone and electricity.