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.

Cat Island home with 128 ft. on a pristine sand beach with amazing views of the sea and beach and 376 ft. deep to the road.

This 726 sq ft furnished home features an open plan design, ceiling fans and tiled floors. There is also a one bed Tree house Guest cottage and a 2 car garage.

Sliding glass doors and windows surround the home allowing a 360 degree view.

495 sq ft verandah on the front and a 72 sq ft patio in the back with a shower.

Ceramic tiled floors and a new roof and deck. It is sold furnished.
Just a short hop to Bennets Harbour.