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.

Arguably the prime location in the charming town of New Plymouth, Green Turtle Cay.

This ideal parcel of land is perfect for a family home with lots of yard space then rent it out as a vacation residence.

The land and location would also be ideal to construct several small vacation villas and set up a little boutique hotel. The options are many and the proximity to all that New Plymouth has to offer makes for an attractive proposal. The age and history of the home gives it the apt name of Heritage.

Green Turtle Cay is named for the sealife that used to be extremely abundant in the area. Many of the residents of the village of New Plymouth can trace their ancestors back to the Loyalists who migrated to the island after the American Revolution. The village is reminiscent of an old New England fishing port, with its clapboard cottages and picket fences. There are many gift shops and restaurants to attract the visitor, although it's worth noting that the village, with the exception of the churches, closes down on Sundays.

This old home is in need of TLC, but the foundations could be reused as well as the storage/generator shed.

Call today to get more details on this beautiful opportunity.