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 large multi-family family building sits on a fully enclosed lot of approximately 9,400 sq. ft. in the quaint and sought after western neighborhood of Stapledon Gardens, just off the Tonique Darling Highway.

It has three (3) complete units, two of which has 2 bedrooms and one full bath; and the third - a full three (3) bedroom and three (3) full bathroom townhouse style unit.

The building has approximately 4,100 sq. ft. of living space. Each unit has a covered patio and fully landscaped front and back yard. There is ample parking for nine (9) vehicles.

With a high rental demand in a safe neighborhood, this investment property is priced right for the serious buyer and the units can be used to pay off the mortgage rather quickly.

Call for a quick showing.