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 3 story building on Shirley Street comprises of an income earning retail space on the ground floor, and two floors of office space above with parking in both front and rear of the building.

Built in 1925 this building is of solid constructions, with updated plumbing and electrical systems. The outside of the building is recently renovated.

The interior boasts a retail space on the ground floor with an annual income around $40,000 pa. The second floor has 4 large offices, a boardroom, reception, waiting area and 2 bathrooms. The third floor has 2 spacious offices and a bathroom. This building could use some updates, but it has huge potential as either an office or a medical building and is being sold fully furnished.

There is parking for approximately eight cars in the rear and parking for two more vehicles in the front of the property.