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.

Situated in the prestigious community of North Westridge, with a little over anacre ofelevated lush tropical landscapedand overlooking the clearblue-green waters of Lake Cunningham is an estate-sized lot to build your dream home.

Lot 166 is 1.15 acres and runs from road-front to road-front. North Westridge has a community park on the lake and access to Lake Cunningham.

Utilities are underground and beach access from the subject lot is a 15 minute walk. A shopping center and supermarket is a 7 minute drive away. Bahamar is also a 10 minute drive from the property.

Awake to the sounds of diverse tropical song birds; walk down Ocean View Drive and see the Bahamar skyline; watch the sun as it glistens in the crystalline beautiful waters of Lake Cunningham.

This is one of the best priced lots in North Westridge. Price to sell and quite negotiable!