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.

Oceanfront 2 bedroom, 2.5 bath townhouse with the beach steps away. To make it affordable, the owner will provide flexible financing to meet your needs.

Completely renovated unit with modern tile and Prego laminate floors. The Kitchen has all-wood cabinets with a granite countertop, a modern stainless-steel sink, and a faucet. New kitchen appliances and lighting. Bathrooms are redone with modern shower tile. Spacious master bath with double sink and plenty of vanity shortage. View sunrise and sunset from your completely renovated 7x18 foot second-floor balcony. Large private patio on the first floor. Partially furnished with modern furniture. Dry bar/coffee bar for entertaining your guests. New energy-efficient AC unit.

The complex has a security fence and gates. Private entrance to your unit with 2 designated parking spots. Short-term rentals are allowed.

Monthly condo fees $523.26. Fido is welcome if under 45 pounds. This unit is owner-occupied, so complete maintenance of the unit.

If you are looking for that Caribbean Dream Home, you just found it!