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.

Located in the subdivision of Caravelle Bay, this large, canal front property is a great find for anyone looking for just the right spot to build their dream home.

Boasting 175' of canal front and 35,000 square feet of land, you cannot go wrong with this property. Great for boaters with easy access to both North and South shores through the waterway.

Convenient access to downtown and airport via new Sir Jack Hayward bridge in less than 20 minutes. This property is also situated in a great location as you can reach the most beautiful beaches on the island from it in no time.

Zoned for multi-family high rise, the possibilities for what you can build on this property is only restricted by the depth of your imagination. So if you're ready to set your soul free and build the home of your dreams, this lot is the one for you!