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.

Don't miss this rare opportunity to invest in vacant land (33,298 sq. ft.) suitable for a large scale commercial development located on the northern side of Second Terrace, about 315 feet east of Collins Avenue, and just behind Doctor's Hospital.

This hill top property is centrally located in the prestigious, high net worth commercial area in the heart of the capital of New Providence. It is nestled in the rapidly expanding Central Business District, surrounded by medical offices offering a full array of medical services, two major hospitals in the downtown area, established insurance offices, several mature apartment buildings, and a few single-family residences.

As an ultra-bonus, this property has commanding views of Atlantis, and oblique sea views!

Call now to arrange a private viewing of this highly desirable property!