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.

Located in the quiet Love Beach community directly on West Bay Street, this multi-family zoned lot includes deeded beach access and a well-crafted 7-bed, 6 bath compound. The 4, 500 sq. ft. main home, built in 2015, features an open living and dining area overlooking the large pool and two oversized covered patios - perfect for entertaining. It includes 5 bedrooms, 3 bathrooms, an upstairs bonus room, a spacious kitchen with pantry and breakfast nook, impact-resistant doors and windows, a custom front door, copper flashing and 40-year architectural shingles. A separate 1, 200 sq. ft. guest house offers 2 bedrooms, 1 bath, full kitchen, living room, laundry, and private gated access - ideal for extended family or rental income. An 800 sq. ft. ground-level efficiency includes a kitchenette and full bath offering added flexibility for guests or an onsite office. An irrigation system keeps the landscaping lush. A rare, flexible property offering style, strength, and income potential.