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.

Oceanfront Condo in Gated Community with Private Beach and Pool

Experience luxury living in this stunning 3-bedroom, 3-bathroom oceanfront condo nestled on the beach next to the renowned Albany Resort. This modern residence offers breathtaking ocean views and mesmerizing winter sunsets, creating an idyllic coastal retreat.

The main floor features an open-plan modern kitchen and dining area, which flows into the living room, opening onto a balcony overlooking the sea. There are two large and airy bedrooms, two bathrooms, and laundry facilities on this main floor. The front bedroom features a bay window with window seating overlooking the sea and opens into the living room with double doors, making it a fabulous multi-purpose room for those who do not need the extra bedroom full-time.

Enjoy one of two private terraces facing the ocean, a sunny open space with incredible views off the third floor master suite, and the other is a private, covered cool space opening off the living room. Savour the fresh ocean breeze and the soothing sounds of the waves below.

Upstairs, the spacious master bedroom with ensuite and walk in closet, also features a bonus room with beautiful blue custom built-in cabinets that could be utilised as a gym or a home office, providing flexibility to suit your lifestyle. Currently it is utilised as a cozy media room.

The condo is sold fully furnished and ready for you to move in, offering effortless style and convenience.

With two assigned parking spots and ample guest parking, you and your visitors will always have a place to park. Enjoy the added benefit of a managed, secured, gated community, ensuring a stress-free ownership experience.