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.

A Beautiful Home Site on Windermere Island, a private gated community and discreet choice for those seeking an extraordinary, unspoiled island paradise. An inviting members only club boasts fine food, exciting cocktails and a lovely space to gather with family and friends. A heated swimming pool, tennis courts and fitness room are included. Boat access to the Atlantic and Savannah Sound is a unique bonus.

The lot is centrally located and near the beach access. Just a short stroll and you are on one of the world's most beautiful pink sand beaches that stretches for miles. Nice elevations provide the perfect location for an island paradise home capturing ocean breezes and unmatched privacy. Underground utilities service the island and allow for uninterrupted views of the stunning Atlantic Ocean and amazing turquoise waters of the Sound.

There is a new covered bar and lounge deck for community gatherings and rest and relaxation on the sound side of the island. Nearby shops and restaurants can be found in the settlements of Savannah Sound, Palmetto Point and Governor's Harbour. Windermere is located just 30 minutes from both The Rock Sound Airport and Governor's Harbour International Airport servicing both commercial airlines and private jets.