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.

Set on a beautifully landscaped lot on a wide canal, 9 Charleston Lane enjoys the best of indoor/outdoor living. With natural flooring that flows seamlessly from the living room to the verandah with top-of-the-line 10 ft sliding glass doors that fully retract into the walls allowing a seamless indoor/outdoor environment.

The home is complete with 5 bedrooms, including one downstairs, and five and a half bathrooms. The kitchen is open plan and is complete with granite counter tops and top-of-the-line appliances. The grounds include a generous swimming pool, a gravel driveway with a two-car carport and dry beach area on the canal.

Viewings by appointment.