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.

Five acres of lush elevated land to develop with peak views of the Atlantic Ocean tucked away. A three bedroom/two bath Caretakers Cottage newly renovated with new roof, updated the windows, doors, bedrooms, kitchen, and baths. You have decks to sit and enjoy the ocean breeze while sipping on your favorite beverage.

The property has a storage warehouse for several carts, water sports equipment and small boats. Walking distance from our major restaurants and the settlement of Hope Town. The land is ideal for growing fruit trees. For many years it grew plump Sugar Bananas, lemon, lime, sweet oranges, avocado and much more vegetation. You can approach the site from the Queen's Highway and across to Eastern Road.

Must-see property Ideal if you have a vision of a small development or the privacy of an Estate Home