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.

These two Single Family lots are being sold as a package and cover 9,720 sq. ft. They are side by side running east to west, located pn the western side at the end of a cul de sac, nicely tucked at the end of Pine Tree Drive, in the desirable Coral Lakes Subdivision.

The quiet and beautiful Coral Lakes neighborhood is mostly developed with single family homes well-kept with manicured lawns. These properties are a great for a family wanting to live in desirable western New Providence near the airport, beaches, and the prestigious Albany Development and have another property for generations to come or added privacy or future development.

The properties have a special feature in that they border a mangrove lake with lots of wildlife.

This unbelievable offer is priced to sell!