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.

Welcome to your dream home in the gated community of Venice Bay. This Atlantic townhome features 2 bedrooms, 2.5 bathrooms with granite countertops, a full kitchen with granite countertops, and tiled flooring throughout. Enjoy the outdoors on your front and back patios or relax on the balcony, which overlooks the Grand Canal and Millar's Sound.

The home includes a full-size garage, which can be converted into a third bedroom, and comes equipped with central air conditioning, ceiling fans, and essential appliances.

Venice Bay offers 24-hour security, 2 swimming pools, a tennis court, 7 acres of parks, landscaped streets, and deep water access via the Grand Canal. With a gazebo and 250-slip marina under construction and a community clubhouse planned, this community provides a serene, amenity-rich lifestyle.