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 superb 3rd floor condo has 3 bedrooms and 3 bathrooms in 2,400 sq.ft. of living space, with a 43 ft. balcony.
There are expansive ocean and sandy beach views from the 43 ft. Balcony as well as from the large living room areas and bedrooms.
It is offered fully furnished and consists of a spacious master bedroom with ensuite bathroom, 2 additional bedrooms with ensuite bathrooms, modern equipped kitchen and a laundry room.
Caves Heights is a gated community, which offers residents a family pool, heated lap pool, fitness centre, tennis court, full capacity standby genetors and 24 hour security. The community is located within Caves Village which offers an abundance of amenities such as restaurants, shops, banks, hair salon, and many more.
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