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 fully furnished, Sandyport home is a great spot for families and boaters.

The home features three bedrooms, three and a half baths, dishwasher and microwave, stainless appliances and granite countertops in the kitchen, central air conditioning, a separate family/tv room, and a large patio for relaxing and entertaining. There is a laundry area with a full size washer and dryer and there is a dock out front to keep your boat.

Sandyport has access to Tambearly school through a gate, numerous pools and tennis courts, and the Olde Towne next door has Club One gym, several restaurants and cafes, hair salon, medical and wellness facilities, as well as a beach with two beach front restaurants.

This is your chance to be in the highly desired Sandyport community.