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.

Welcome to this exquisite townhouse nestled in a cozy gated community in western New Providence. Boasting breathtaking sea views, this property offers a luxurious and serene coastal lifestyle.

Spanning over three floors, this townhouse offers ample space and privacy with around 2,600 interior square feet plus a 400 square foot covered garage area and storage area on the ground floor. The main level features an open-concept living area, perfect for entertaining guests or spending quality time with your loved ones. The open kitchen is equipped with high-end appliances and offers plenty of storage space. The dining area opens up to a larger living area with a balcony, providing a picturesque setting for enjoying meals with stunning sea views.

The upper level is dedicated to two spacious bedrooms. The master bedroom is a true retreat, complete with an ensuite bathroom and a private balcony overlooking the sea. The two additional bedrooms are well-appointed with ensuite bathrooms with the second bedroom on the ground level for ease of access.

In addition to a bedroom ensuite, the lower level of the townhouse offers a versatile space that can be used as a home office and also includes a laundry area and garage entrance.

Residents of this gated community have exclusive access to a swimming pool, and a stand-by generator. With its close proximity being steps to the beach, you can easily indulge in sun-soaked days and refreshing ocean breezes.

Don't miss out on the opportunity to own this exceptional townhouse with sea views in western New Providence. Contact us today to schedule a viewing and make this your dream home.