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.

Hurricane distressed opportunity. Plymouth View Acres is a two-acre estate with an 1800-square-foot structure that has the potential to be renovated. Subject engineering inspection. The original structure was built in the 60's the rear portion of the house or northern half of the house was added on in or around 1996-97.. The original foundation and 40,000-gallon cistern are still intact. As an added bonus, the property has a concrete swimming pool that can be upgraded. This property has 360-degree views with emphasis on New Plymouth and Black Sound. The property offers a public dock less than 50 yards from the front door. and beach access is a two-minute walk from the house. This two-acre estate with a repairable concrete home with a pool can be operational in under six months at a fraction of the time and cost to build new. With a new structure, a renovated pool, and natural native landscaping, the rental potential would be limitless. With some vision and money this could be yours. Bring offers before this sells.