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.

Located in the exclusive gated community of Port New Providence, on the canal, this spacious family home takes full advantage of the unobstructed water views. The home is ideally situated at the end of a quiet cul-de-sac and on a small peninsula, offering some of the best views in the community. With approximately 300 ft. of canal frontage, this property is a boater's dream.

The ground floor offers a spacious entryway opening up to a large kitchen, dining and family room. There are also two bedrooms, two baths, a 2 car garage, pantry, laundry and a covered deck leading out to the pool, patio and lushly landscaped gardens.

The second floor includes a spacious master bedroom with incredible views, an en-suite bath and large walk-in closet, two additional bedrooms with a shared bath and walk-in closets, a bar/library and a large living area with another covered outdoor patio space.

Amenities include a back up generator, hurricane windows and shutters, a swimming pool and large covered patio.

Call today to arrange a private viewing!