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 well-built triplex features 3 spacious two bedroom, one bathroom homes. One end unit can be reconverted to a three bedroom, two bathroom residence. The master Suite is currently being rented as a one bedroom unit.

The units are completed with contemporary cabinetry and neutral, modern tiles and finishes.

The lot also provides pleasant landscaping with a front driveway for ample parking.

The residence and all of the units are currently rented bringing in a fair monthly income.

Located near to Fire Trail Road and Gladstone Road, this triplex is easily accessible and conveniently situated close to schools, shopping plazas, churches and much more.

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