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.

One of the Great Historic Properties of Eastern Nassau, this renovated Oceanfront Estate sits on an acre of prime real estate.

2 Beach Areas with 80 ft pier. Large Terraces & Pool Area for outside entertaining and 60 ft palm trees at Rear Garden.

+6,000 sf of Main Residence offers gorgeous ocean views from virtually every room and comprises on the Ground Floor of Large Formal Living & Dining Rooms, Sitting Areas, a new Kitchen with Breakfast & Lounge, Separate Bar, 2 Bedrooms & 1 Bath.

On the Upper Floor there are 5 Bedrooms and a Gym/Media room:
A huge Master Suite with direct access to a large Balcony overlooking the ocean, 2 more Oceanfront Bedrooms with a shared Bath/Balcony, also 2 Guest Bedroom Suites and Laundry.

A New Beach Cabana/Guest Studio on the Beach/Ocean with Terrace above.

A new 720 sf Studio in the front garden and convertible into a Guest Villa.

Appraised at $3.5M.

60KW auto generator
Water Cistern, Fresh Water Well, Softener/UV
High Efficiency A/C units
Impact windows
Electric Shutters
Boat & Garden Storage
Security System
Pool Bath