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.

Located on the second floor of "B' Block, this recently completely renovated apartment faces north, looking over the communal swimming pool and out towards the harbor. It is a very bright, open, and clean apartment with a north-facing balcony off the living /dining room. The apartment has been updated, with new floor tiling throughout, as well as new electric wiring and plumbing. An electric instantaneous hot water heating system has been installed; four new electric fans with overhead lights have been installed; there are two split system a/c units as well as one wall unit (in the second back bedroom). The balcony provides a useful space to enjoy morning coffee and evening cocktails. There is existing cable wiring in the main living area and in each of the bedrooms. All glass windows and doors have been replaced with new storm-proof, double-glazed, lockable secure units. There is a communal laundry, an attractive swimming pool, and an allocated parking space for one vehicle.

Short term rentals allowed. Offered partly-furnished with brand new appliances.