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 spacious split level single family home is nestled in the quiet canal front subdivision of Bahama Terrace.

The building sits on two beautifully manicured elevated canal front lots. The split level single family home boasts 4 bedrooms and 3.5 baths. The ground floor offers a vast modern and well equipped kitchen space, breakfast nook, dining room, living room and family room.

The Family room is accented by the large bar facing the french doors which open onto a covered patio space, the pool and out to the Games Room- where you will find another large bar.

The Game Room is the perfect Mans Cave- spacious enough for a large billiards table. The 800 sq. ft. room overlooks the serenity of this canal front environment.

Offered as well is the 322 sq. ft. sauna and a storage building at the rear of the property. Follow the sweeping wooden staircase with the lovely mahogany bannister to the master bedroom suite and two spacious walk-in closets and private ensuite bathroom with both a jacuzzi and shower stall. The second and third bedrooms share the remaining full bathroom.

The home itself measures 4,463 sq. ft. under roof which includes the double car garage and various balcony spaces, and has the added protection of a standing seam metal roof, hurricane windows and security bars.

The property is fronted by a decorative concrete wall with two electronic gates at the front and the side of the property. A chain link fence borders the boundary of the property. The large decorative concrete driveway leads to the front gated court yard of the house , the two car garage and offers ample guest parking spaces.

The property is beautifully landscaped with shrubs, tropical trees and colourful plants as well as a healthy lawn.

To truly appreciate the beauty of this property, please call to arrange your private showing.