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 multi-purpose home is located in the quiet Nassau East community.

The home consists of two parts, the main house and a income producing unit attached to the home.

The main home consists of the kitchen, living room, dining room, 2.5 bathrooms and 4 bedrooms. Attached to the home is a room that can be used as an efficiency styled unit, for each unit. A storage shed, shared pool and generous size backyard ideal for entertaining.

This home is the perfect income producing opportunity for investors looking to rent out each section for long term or short term (AirBnB) purposes, It can also be used a beautiful family home.

Located just opposite the neighborhood park, this home is in a family friendly community, just a short distance to grocery stores, restaurants, a gym, and short drive to the beach.

Make this yours today!