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.

Frangipani sits on the canal in Bell Channel Bay with 132' on the canal and is located one block from the beach. Frangipani is two separate townhouses with two units each and is being sold with a Builders Investment Licence (cheapest on the island) inclusive of Bond. In addition, the yearly service charge on this property is paid in full for life.

Built in 1998, these spacious units pay for themselves. Units comprise of 2 bedroom, 2.5 bathrooms with one car garage each, and are completely tiled; the master bedroom has an en suite bathroom with Jacuzzi tub and walk in closets. The grounds are tropically landscaped with electronic gate at the entrance and fencing at the sides. Each unit has a private covered deck. All units are fully furnished and has personal laundry facilties. Other amenities include a 400' gazebo which extends over the waterway; a floating dock for boats; swimming pool; alarm system; security screens and bars in addition to hurricane shutters.

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