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.

Sand Dollar is a custom built 3 bed 2 bath on 2 levels. The 2100 square foot centrally aired, home offers all the amenities of a beach front home without the upkeep of being directly on the beach. Endless added upgrades with tougue and groove cypress on the walls and ceilings, ceramic tile floors, custom mahogany stair case leading to the master suite, with porch deck, on the second level. The master bath offers his and hers bath with vanities. A covered veranda seating area in the front entrance to enjoy the ocean atmosphere in the mornings. In the afternoons enjoy entertaining your guests on your pool deck while taking an afternoon dip in your fresh water pool. Sand Dollar is situated just one lot in from the beach with full access just steps away at On De Beach Grill and Turtle Hill Resort. Enjoy this quiet centrally located home in the New Settlement beach community.