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.

Nestled within the charming beachside community of Long Beach, this picturesque property spanning 10,400 square feet epitomizes coastal living at its finest. A perfect harmony of comfort and convenience, this recently built home offers a unique blend of tranquillity and accessibility. Step into the 2,000 SF, 3 bdrm, 2 bthrm home and be greeted by sweeping 180-degree vistas of the 7 mile long Crossing Rocks beach and Atlantic Ocean. Enjoy the ever-changing colours of the ocean and the soothing sounds of waves crashing against the shore from the comfort of the stunning 'ocean' room. The 'Ocean Room' has oversized windows which perfectly frame the soothing views of the ocean and provides the absolutely ideal spot to catch up on that book you have been wanting to get to. Surrounded by lush fruit trees and native foliage, this property truly embodies paradise. Immerse yourself in the serenity of nature, where each day begins and ends with the beauty of the coastal landscape. The spacious 460-square-foot loft space offers limitless possibilities. Whether utilized as a home office, an artist's studio, or a cozy retreat, this area provides ample room for creativity and personalization. Discover the hidden gem of this home with its fully enclosed but unfinished ground level. Offering abundant storage options and additional workspace, this area presents the opportunity to double your living space or create the ultimate hobby room. With its thoughtfully designed floor plan and turnkey convenience, this property ensures effortless upkeep, allowing you to spend more time enjoying the beach lifestyle. The 12 yo home is sold fully furnished and in turn key condition. Construction is wood frame supported on sturdy concrete posts with Hardi exterior and an asphalt roof. Long Beach is 45 minutes south of Marsh Harbour and the Marsh Harbour International Airport. Don't miss out on this exceptional opportunity; call today!