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.

Pine Bay is a quaint family orientated canal front community. The community is quickly rebuilding itself following hurricane Dorian in 2019. Many of the families have returned to their homes and happily enjoying the quiet canal community.

This lot is located on the popular Alpine Lane. This triangular lot measures 70' of canal seawall, 162' deep and 197' across the road. The canal in front of the lot is approximately 8' at low tide and there is plenty of space to build a dock in.

The canals in general are 10-12' deep and you are basically across the street from a public boat launch Be aware that there is an abandoned boat on the property.

Call us for details about becoming an owner in the beautiful Pine Bay community.