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.

Enjoy a gracious island lifestyle in this fantastic 3 bed, 3 bath Canal-front condo nestled in quiet Kings Bay.

The condo boasts direct canal views, private patio, close proximity to the beach and offers plenty of available dockage space.

The unit is a single level ground floor end unit, with 3 private patios off the living room and 2 master bedrooms.

Amenities include stainless steel appliances, corian countertops, washer/dryer, central a/c; all in an expansive free flowing floor plan.

Kings Bay is a tranquil waterfront community near beautiful beaches, restaurants, hotels, and shopping. Boaters will be able to dock directly behind the unit and enjoy immediate access to the turquoise Atlantic ocean.

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