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.

With spectacular views this charming 2,800 sq. ft. 3-4 bedroom 2.5 bathroom hilltop, solar and wind powered home is set on 1.63 acres with a 30,000 gallon cistern for the rain water system. There are 18 ft. ceilings in the open living area that is comprised of living, dining and kitchen, pantry, laundry area in a side nook, and there is a storage room plus a 140 sq. ft. cellar. The 4th room is as large as the other bedrooms and it can be used as a bedroom or office. The floors are ceramic tile and there is a large 650 sq. ft. (Ipe wood) deck. It also features ceiling fans, a widow's walk with unparalleled views plus dutch stairs up to a loft area.
Construction is of 8 inch poured concrete and steel with foam utilizing insulated concrete forms (ICF) on a poured concrete slab foundation and a hardi-plank exterior.
Just a few minutes walk away is a beautiful, quiet, 3 mile beach (north). East is Shanna's Cove, a charming resort nearby with superb food and diving tours available ... and another beach!
So if you are looking for a property with natural beauty, sustainable environmentally friendly living, the security of hill top living AND direct access to miles of virgin beach, this is the place for you.