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.

Discover the perfect opportunity for investment at Fairway Close, an exclusive community nestled in the heart of Coral Harbour. These prime single family lots are ideally situated within walking distance to pristine beaches, offering a tranquil lifestyle combined with convenience. Lot 17 is 9185 square feet.

Enjoy easy access to essential amenities, including schools, shopping centers, and the airport, all just a short drive away. Each lot is equipped with essential utilities, ensuring a seamless building experience.

Safety and privacy are paramount, as the community is gated and secure, providing peace of mind for residents and investors alike. Phase 1 has already sold out and we are introducing Phase 2!

Whether you're looking to build a new home or create a vibrant community, Fairway Close is the ideal location to turn your vision into reality. Don't miss this opportunity to invest in a desirable area where lifestyle meets convenience!