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.

Development opportunity in southern Cat Island. Flamingo Hills and Marina is a great opportunity to own a fully approved development and marina in beautiful southern Cat Island. There are 24 Available beach and Hill top lots 19 lots are sold and two completed homes are included in the development.

The first phase of the marina is 50% complete and will have 25 Slips and a gas dock. The fully approved marina will hold 102 slips and accommodate vessels up to 180 ft.

Future development of the property includes over 100 acres, access to the queens highway and an unused airstrip.