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 3,000 sq. ft. Commercial Building is perfect for a new or seasoned Business. It sits on a 5,000 sq. ft lot on a busy intersection on the main Blue Hill Road (South).

This commercial building is ready for you to create your own floor plan for upstairs and downstairs as it was in the midst of a visionary renovation.

Parking exists on the northern and western side of the building. Public and private schools, shopping centers, food stores and other civil amenities are within a three-mile radius.

This building is structurally sound, priced to sell and will not last long on the market.

Call immediately to schedule an appointment to view.