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.

2 houses on 1 amazing canal-front property! A quiet oasis, perfect for fishing fanatics, gardeners and DIYers.

The 2-bed, 2-bath, 2-car-garage main house is open-plan with views of the canal, many fruit trees and gardens.

Features include central a/c, heat, propane appliances, impact resistant windows and doors, storm shutters, spacious garage and workshop for all your toys and an automatic standby generator.

Want more room? The house was originally designed to have a 2nd floor above the garage. All the conduits are in place. A wide side gate enables vehicle access to the dock. There is a 16K lb boat lift (upgradeable to 24K), fish cleaning table and gazebo.

The place is magical by night when the moon comes up the canal and solar lighting illuminates the trees. On the same property but completely separate is a 2-bed, 1-bath, 1-car-garage cottage.

Own driveway, fenced yard, back deck, shutters, propane appliances and utilities make it ideal as a rental.