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 prime open zoned parcel is a great opportunity for an investor. Located on Carmichael Road, west of Gladstone Road, this parcel boasts 5 acres with 150.04 ft of road frontage, on Carmichael Road and 250 ft on the Southern Road Reservation.

This property is open zoned and benefits from high traffic volume. The Subject's neighborhood is considered a good commercial area, approximately 80% developed with commercial buildings, and apartments. It is strategically positioned, directly opposite the proposed residential development - The Renaissance.

All that piece, parcel or lot of land being a 5 Acre Tract and being an extract from a plan recorded in the Crown Lands Department as Plan 251 of New Providence being bounded on the North by Carmichael Road running thereon 150.04 feet, on the East by varies lots being a portion of Crown Grant A-47 running thereon 1,089.02 feet, on the South by a 30 ft. wide Road Reservation running thereon 250.00 feet, and on the West by Crown Grant A6-87 running thereon 1,092.40 feet.