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 beachfront property in Grand Bahama offers beach to canal front acreage with 209 ft. between two lots on the beach. There are a total of two bungalow-styled homes built to blend with the existing landscaping. The beach bungalow consists of a main living area with open floor design and a detached bedroom, accessible along the ocean boardwalk and features a king bed with a full bath, a closet/den utilized for additional bedding and panoramic ocean views. Take in the ocean breeze at the beachside cabana on the property's eastern end, which can also be fully developed to feature an additional oceanfront home. At the canal lot, the Dock house features an open concept and was built by boaters, for boaters. With a magnificent view of the canal, it can accommodate boats up to 60 ft. in length. The Dock house also features a concrete poured seawall with cabana, a private ramp, a boat lift and a fully equipped fisherman's kitchen within the garage area capable of housing boating equipment or multiple vehicles. Additional features include, full service generator, storage and marina nearby.