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.

Some of the last remaining prime elevated beachfront parcels are situated overlooking Coco Bay. Estimated to have +-20' elevations. These two adjoining parcels in combination entail 33,592 square feet or 0.7711 acres. The two parcels combined offer a generous 171.25' of prime beachfront property on the bay. Water and electricity are in close proximity to the lot. This location offers access to both Coco Bay and the Atlantic Ocean Beach. A permit to build a private dock can be applied for by the new owner. This property would offer unlimited sunsets and tranquil, warm bay waters on blustery winter days. The building site is untouched and unspoiled with native foliage, allowing for a blank canvas that is just awaiting the right discerning buyer. A third adjoining parcel is available for sale if more acreage and beachfront is needed.