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 a quiet neighborhood in Camperdown, Eastern New Providence. This beautiful home is modern and is fully enclosed and surrounded with tropical trees, palms and shrubbery.

Featuring an open plan design with a large spacious modern kitchen and living and dining areas. A downstairs bedroom and full bath is located on the ground floor.

Wood stairways lead up to three of the bedrooms, all with ensuite baths. A bonus room is located just above the second floor that can be used as a play room for children or office/study.

The well landscaped yard and zero entry pool is the perfect setting to enjoy outdoor dining and entertaining with family and friends.

Other features include; stainless steel kitchen appliances, quartz counter tops, automatic generator, double garage, electric gate, wrap around veranda, walk-in closet and Jacuzzi in master bedroom.

Just a short walk to the horse stables, minutes drive to shopping centers and supermarkets and only about a five-minute drive to St. Andrew's School.

This is a must see!