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-bedroom, 3-bath townhouse is ideal for a boater. With your boat slip directly in front of your unit, you can keep an eye on your boat or slip out for a midnight cruise in your PJs!

This townhouse offers spectacular sunrise views from the master bedroom lanai and a truly open-concept living, with the living room and dining opening straight out to the canal. All windows have been equipped with hurricane shutters for ultimate protection. The floors are large marble tiles downstairs and solid wood floors upstairs. The three bedrooms are all upstairs, along with the laundry facilities. Each has its own bathroom and ample closet spaces.

The Blue Marina complex offers a large pool and pool area, plus an electronic entry gate and quick and easy access to the ocean inlet. It is great for your own use or as an income producer with long"'or short-term rentals. Call Catherine today to arrange an in-person showing or a video viewing.