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 beautiful cottage in Gambier Point has survived the ravages of Hurricane Dorian in 2019 . It has been cleaned out and suitably repaired. You may want to consider adding a metal roof, but the existing roof is sufficient for now, hew windows and doors and there are hurricane shutters. The house suffered less than 4 feet of water leaving many of the electrical outlets high and dry. The kitchen cabinets need to be replaced and of course all things electrical, but the grounds are lush and green. The location of this house gives you almost immediate access to the beach!.

Located in a very peaceful neighborhood, this cottage sits atop a rise with a fantastic view of the beach at the bottom of the hill...a mere 50 steps from your doorstep.