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 27,509 sq. ft. lot is ideally located within The Stella Maris Estate.

Approximate elevation of about 20' and with the right construction can give almost panoramic views. All utilities are nearby and can be easily accessed.

Shopping, Banking, Government Offices, Schools and Clinics are all within minutes from the property. The Stella Maris Airport is just 5 minutes away.

Other amenities include: Stella Maris Resort and Restaurant, Club House and Pool, Stella Maris Marina with beaches also in walking distance to the Atlantic Side.

Stella Maris is also the location of The Proposed Port St. George Project.