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.

The fabulous Confederates Walk Solar Cottage is a dream come true. Lush landscaping surround this lovely 3 bed 3 bath home. A wide quarter round verandah encourages outdoor entertainment whether you are watching the migratory birds in the bird bath in the mornings or the water fowl in the well established golf course pond in the evening. Serene Island Living!

Granite counter tops, spacious open concept kitchen, living room and dining area. The kitchen contains a gas 5 burner cooker with a stackable washer dryer tucked into a closet in the kitchen, a custom built in fridge and pantry. Two spacious bedrooms on the ground floor with their own ensuite bathrooms. The third bedroom all to itself on the top floor.

This lovely home is equipped with hurricane impact patio doors and upstairs windows. AND a 4K Solar System with sol-Arc converter which works with or without batteries. There is a battery backup for critical circuits. All of the ground floor windows have bahama- style hurricane shutters.

The 20'x20' garage is equipped with a garage door and a man door currently being used as a workshop. The garage and the home are both built using Insulated Concrete Forms or ICF construction, with wooden trusses in the ceiling and a standing seam metal roof.

Porcelain tiles are found throughout the house with beautiful landscaping around the pool area - ideal for vegetable garden and fruiting trees.

This picturesque property backs onto the Emerald Golf Course pond front.