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 well-built home sits in a peaceful community in Eastern New Providence. The home is a perfect three (3) bedrooms with two and a half bathrooms for comfort and convenience. It features an open living room and dining room with a kitchen plus a breakfast bar for quick family meals. The kitchen counters are granite with a tiled backsplash and are flanked by customized modern cabinetry. The bathrooms are spacious with storage for linen and other essentials.

The property size is an ample 8,444 sq. ft. while the building is a comfortable 3,491 sq ft.

Other features include a large well-landscaped back yard, with lawn areas, palm trees and a button wood hedge, amongst others. The exterior is ideal for entertainment or quiet time.

Situated in close proximity to many private schools, beautiful beaches, food stores, plazas, restaurants, shopping , public library, The Rugby Tennis Court, and much, much more...

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