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 multi-family lot is located at the entrance of the Forest settlement. There is access to all Government supplied utilities directly at the lot.

The Forest settlement lies between Farmers Hill on the west and Mt. Thompson settlement on the east. Quietly set back some 1.5 miles off the Queens Highway this lot comes with deeded beach access too the Three Sisters Beach reserve.

The international airport is some 3.5 miles east and the Sandals Emerald Bay hotel is some 2.5 west of this property.

This lot is not low lying but will retain water with heavy rains so some filling will be required non the less this is a great start to real estate ownership.

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