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.

This rare masterpiece is truly one of a kind! With over 4,050 sq. ft. of perfection, this 3 bedroom, 3.5 bathroom home has porcelain tiled floors, an oversized master suite with a Jacuzzi, and a customized walk-in closet. The gourmet kitchen has stainless steel appliances and is truly designed for a chef. The entire house is well secured with remote controls, motion detectors, and hurricane/burglar proof windows. Vaulted ceilings are 10 feet and 12 feet high. Designer solid wood furnishings are of top of the line quality. The Bahama room comes with a state of the art entertainment center with wrap around sound system.

Other outstanding features include wireless internet access throughout the house, Waterford crystal chandeliers in the foyer and dining areas, a nice pool, a handmade driveway, customized library and a sprinkler & irrigation system fully automated with water softener. Family size pool. For the boat lover, the property features a 45ft dock with a floating dock and boatlift!