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.

Welcome to Freedom a turn-key home on an elevated property in the Love Beach area. The home was completely rebuilt after Hurricane Gilbert in 2016 with a new roof all new impact-resistant windows as well as all appointments so it shows like a new home.

Freedom is set up as a 4 bedroom home but could easily be converted into a 5 bedroom by converting the downstairs den into a bedroom.

The property has numerous mature fruit trees, a private pool and a lower terraced area behind the home that would be ideal for a large vegetable garden.

The deeded beach access, large private grounds, a swimming pool and close access to the airport make Freedom an ideal property for a vacation rental home or the home you have been dreaming of.

Shown by appointment.