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 is a rare opportunity to own a beautiful home on Little Hermitage Creek, Eastern Road. Little Hermitage Creek is a privately developed area consisting of only 11 lots all with water frontage, a boater's dream. The property offers a fully enclosed garden with lush tropical landscaping and mature fruit trees, and 120 ft of bulkhead with amazing views down the creek and out to the sea.

The master bedroom is conveniently located on the ground floor, along with two additional bedrooms. The open living/dining area boasts high ceilings, a working fireplace and opens up to the large waterfront deck. The bright, spacious kitchen includes a breakfast nook and leads to a charming Family room with water views.

Other amenities include pine wood floors, a swimming pool, large patio, pool house with a kitchenette and full bath, fireplace, rain water tank, large waterfront deck, enclosed garage with additional covered parking.

Call for a private viewing.