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 2.05 acre parcel is located in Salt Pond, Long Island with 146.22 feet of water frontage.

Salt Pond is 11.5 miles north of the Deadman's Cay airport, with a population of approximately 3,400 people, miles of white sandy beaches, rocky cliffs on the Atlantic side and shallow banks on the Caribbean side.

This property overlooks a beautiful harbor, known for it's good anchorage and is frequented by Winter Boaters every year.

There are 2 major Food Stores, a Gas Station, Marine Store, Auto Mechanic Store, Restaurants and the Long Island Breeze Resort.