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.

Luxury three bedroom, three and one-half bath townhouse located in a prime gated community in the western district of New Providence.

Built on the water's edge, offering fantastic ocean views and beautiful sunsets! Other amenities of this property include a gated entrance, 2 parking spaces per unit, access to 2 pools and beach, close proximity to shopping, restaurants and the airport.

An open living and dining floor plan offers an invitation to relaxation. The kitchen is well equipped including corian countertops, dishwasher and microwave, dishes, pots and pans etc.
It also comes with central air, washer dryer, ground floor patio/terrace and a balcony off of the master bedroom upstairs that overlook the sea.

This charming unit is furnished and move-in ready.