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.

39.130 undeveloped acres with views over the sea and Great Lake! The property has a gentle rise on which to take advantage of the most spectacular views!
Retreat to the serenity of your private compound, just a quick walk across the lazy Queen's 'Highway' to a white sandy beach.

San Salvador boasts fine resorts and an active airport despite it's remote location. This area is popular for divers, boaters and explorers! Power is on the property, shopping is within a short distance.

Edgecombe Tract Parcel C is beachfront and also for sale at $600,000. (MLS 50824)

Buy the 2 parcels and build a resort with a quaint golf cart ride the private beach front!