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.

Just to be on Green Turtle is a delight in itself and Pretty Place is an ideal west facing building site on the North end's Coco Bay.

Pretty Place is 1.542 acres on Coco Bay Beach with 253' of pristine bay front shoreline. Seller could consider two equal parcels of 0.75 acre each at $485,000.

The property extends from the road to the bay allowing a nice large building parcel to build one or multiple cottages. The land is level which allows for easy access for building or otherwise.

The front of the property leads into a unique large shallow sandy area great for wading and beach combing and, at the end of the day, enjoying those colorful tropical sunsets!