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 turnkey elegant rooftop unit at Balmoral is being offered fully furnished. With just under 3000 square feet of living space this unit offers 3 bedrooms, 2.5 bathrooms and a fully finished rooftop terrace with sweeping views of the ocean and surrounding area.

The ground floor features an expansive living/dining and kitchen areas with a large kitchen island, quartz counter tops and stainless steel appliances. French doors from the living area open onto a newly added deck and lush enclosed garden.

The second floor features a large master suite with a beautifully appointed bathroom with a double vanity. Two additional rooms share a second bathroom. Both these additional rooms can be offered as bedrooms or bedroom and office space. The third level rooftop terrace offers incredible views during the day or night. The open air kitchen and living space creates an unforgettable entertainment area.

Balmoral consists of over 100 town homes and 70 single family home sites. Community amenities include tennis courts, a playground, swimming pool, 24 hour security, a stunning clubhouse, gym, deli and lushly landscaped grounds. This is an excellent property for full time living, or for the savvy buyer looking for an investment property.A full standby generator and water pressure tank have also been added to enhance comfort of living.