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.

Walking On Sunshine is a 3 bedroom 2 bathroom villa with sea views set in a gorgeous tropical garden of fruit trees and flowers; for beauty and tranquility look no further. The interior has very high vaulted wooden cyprus ceilings and has a very comfortable, tropical flair. In addition, with a huge screened patio overlooking the garden and facing the Caribbean side of the ocean, the villa is built to enjoy entertaining and outdoor living with the famous Rainbow Bay beach just a few minutes' walk away.
The Boathouse garage and apartment has been built to accommodate both a car and a boat as there are several boat ramps nearby and on the island in general. For those who want to own a boat here, this is a very rare example of a boathouse! It also continues a wonderful apartment with the bedroom and bathroom downstairs and the kitchen/ living room, plus screened patio upstairs, taking advantage of the spectacular panoramic ocean view.
Renting out both dwellings is a very lucrative opportunity as Rainbow Bay is centrally located and popular for exploring the island with the nearest airport only a 15 minute drive to the south and various shops and restaurants including the Rainbow Inn close by.