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.

Positioned on nearly an acre in the prestigious community of Ocean Club Estates, Villa Shiraz is a one-of-a-kind contemporary waterfront estate that provides breathtaking views over Montagu Bay.

Encompassing 16,220 sq. ft. across two levels, the residence includes 8 bedrooms, 8.5 bathrooms, two beautifully designed offices, and a spacious three-car garage. Stunning floor-to-ceiling sliding doors bring the outdoors in, filling the open interiors with natural light and fabulous vistas at every turn. Soaring ceilings and a sweeping staircase add to the home's grandeur. Outdoor gardens feature tropical landscaping, a seaside swimming pool, a cabana with a grill and bar, a 130-foot dock on Montagu Bay, plus lounge and alfresco dining spaces that make for luxury entertaining.

Residents of Ocean Club Estates benefit from unparalleled amenities that include an 18-hole Tom Weiskopf Championship golf course, a private beach club with an infinity pool, tennis courts, and optional membership access to all the amenities at the Atlantis Resort and Casino and The Four Seasons.