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.

Positioned on Dolphin Avenue and King Fisher Street in West Winds, this property has so much potential. From King Fisher side there is a one bedroom and one bathroom with a living area that is convenient for guest quarters or in law suite.
The main entrance from Dolphin opens into a foyer that leads to the comfortable kitchen  that is also accessible from the western garage door.
To the east, opposite the kitchen is a living room and dining open space.

The second floor consists of 3 comfortable bedrooms to the west and and bathroom between two of the bedrooms. The washer and dryer is currently upstairs. The master suite is upstairs on the eastern side. There is also bonus space in the attic.

There is cosmetic work to be done on the home but it is priced right to accommodate those adjustments.

West winds is a manned gated community in Western New Providence, with swimming pool, and other amenities that make living easy. Secure your investment today