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 one of the best communities in Freeport Fortune Village, Fortune Bay Point Drive, this 3,300 sq. ft. home features a spacious layout great for entertaining. The formal living and dining areas flow into one another and are bathed with natural light through the hurricane resistant windows. The kitchen has an island and casual dining area and opens on to the family room.

Cathedral ceilings in family room and kitchen areas accent the open feeling of the living areas. The two and a half car garage boasts a reinforced door and has ample room to store necessities.

The master bedroom, kitchen, family room and fourth bedroom all open onto the expansive outdoor patio overlooking the waterway. This spectacular home can accommodate a large yacht with 125' of waterfront property. The tranquility of this home is embraced by your private landscaped garden and the waterway view is breathtaking.

The roof is finished with barrel tiles and secured with stainless steel screws. The surface roof finish is Somay roof mastic applied to 40 millimeters thickness.

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